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TMI Blog2021 (3) TMI 1095X X X X Extracts X X X X X X X X Extracts X X X X ..... ot adjudicated on the ground nos. 9 to 12 in the appeal filed before him for which the revenue filed appeal before us. The main contention of the revenue is that the addition needs to be examined broadly in the light of allowability of the interest in acquiring the lease rights on the land but not narrowly on the issue, whether such interest is penal in nature or not. Since, the ld. CIT (A) has not adjudicated on the core of the issue, we hold that the interest of justice would be well served by remanding the matter to the file of the ld. CIT (A) to adjudicate on the grounds unadjudicated. Appeal of the revenue allowed for statistical purpose. - ITA No. 3251/Del/2016 (Asstt. Year: 2011-12) - - - Dated:- 5-3-2021 - Sh. Amit Shukla, Ju ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l before the ld. CIT (A). The assessee took up the following grounds at point no. 9, 10, 11 and 12 of the grounds filed: 9. Because the AO has erroneously held that the interest paid to GNIDA is not allowable since the installments were not paid within the stipulated time and interest is in the nature of penal interest. 10. Because the AO could not appreciate that the interest as per the Rescheduled Payment Plan approved by GNIDA is nothing but a necessary business expenditure and the same is fully allowable. 11. Because the AO erroneously held that the interest payment for acquiring the leasehold rights of the land is capital assets and no payment is allowable on capital assets as per the Income Tax Act, 1961. 12. Be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent that the ld. CIT (A) has not adjudicated on the ground nos. 9 to 12 in the appeal filed before him for which the revenue filed appeal before us. The main contention of the revenue is that the addition needs to be examined broadly in the light of allowability of the interest in acquiring the lease rights on the land but not narrowly on the issue, whether such interest is penal in nature or not. Since, the ld. CIT (A) has not adjudicated on the core of the issue, we hold that the interest of justice would be well served by remanding the matter to the file of the ld. CIT (A) to adjudicate on the grounds unadjudicated. 7. In the result, the appeal of the revenue allowed for statistical purpose. Order Pronounced in the Open Court on 05 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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