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TMI Blog2022 (6) TMI 656X X X X Extracts X X X X X X X X Extracts X X X X ..... emonstrate that the facts in the case in the year under consideration and that of earlier years are different and distinguishable and further no material has been placed by the Revenue to demonstrate that the decision rendered by the Tribunal in assessee s own case for earlier years has been stayed/ set aside/ overruled by higher judicial forum. In such a situation, we find no reason to interfere with the order of CIT(A). Thus grounds of the Revenue are dismissed. - ITA No. 5185/Del/2018 - - - Dated:- 23-5-2022 - Sh. Anil Chaturvedi, Accountant Member And Sh. Yogesh Kumar Us, Judicial Member For the Assessee : Shri Rohit Jain, Adv., Ms. Deepa Shree Rao, C.A. For the Revenue : Shri B. S. Anand, Sr. D.R. ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... leting the addition on account of interest on loan to AE ignoring the important fact that loan advanced to the AE has benchmarked the interest rate to its AE with SBI PLR as the loan has been advanced from India in Indian currency to the recipient AE. 3. That the grounds of appeal are without prejudice to each other. 4. That the appellant craves leave to add, amend, alter or forgo any ground(s) of appeal either before or at the time of hearing of the appeal. 4. During the course of assessment proceedings, AO noticed that assessee had advanced loan to its AE namely Shyam Telecom Inc. USA and had not charged any interest on such advance provided to its AE. AO was of the view that interest needs to be provided in the ye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. We have heard the rival submissions and perused the material available on record. The issue in the present ground is about the deletion of adjustment made on account of interest of loan on the amount advanced by the assessee to its AE. We find that identical issue arose in Revenue s appeal for A.Y. 2011-12, 2013-14 2014-15. The Co-ordinate Bench of Tribunal after noting the fact that identical issue arose in assessee s own case in earlier years and the Tribunal in A.Y. 2008-09 2009-10 has decided the issue in favour of the assessee. The Co-ordinate Bench of Tribunal thereafter upheld the findings of CIT(A) and dismissed the appeal of the Revenue. Before us, Revenue has not placed any material on record to demonstrate that the fac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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