9911796707
TMI Blog2014 (10) TMI 1075X X X X Extracts X X X X X X X X Extracts X X X X ..... reasoning, being identical facts/issue before us we remand this issue to the file of the ld. CIT(A) for fresh adjudication. Calculation of book profit u/s 115JB - Since, we have remanded the aforesaid ground of not granting relief of liability towards interest expenditure claimed by the assessee to the file of the ld. CIT(A), therefore, the grievance of the assessee will depend upon the outcome of the decision to be taken with respect of aforesaid ground no. 4. Consequently, this ground is consequential to the above - this ground is allowed for statistical purposes. Charging of interest u/s 234A, 234B and 234C - HELD THAT:- Agreed, levy of interest is mandatory and sometimes consequential depending upon the facts of each case. We note that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ld. Commissioner of Income-tax(Appeals) has erred in law and in facts in charging interest u/s 234A, 234B, and 234C of the Act. 2. At the time of hearing, the ld. Counsel for the assessee Shri Vijay Mehta did not press ground nos. 1 to 3 in the grounds of appeal to which the special counsel for the revenue had also no objections, therefore, these grounds are dismissed as not pressed. 3. Ground no. 4 pertains to not granting relief of liability amounting to Rs.1,07,81,528/- towards interest expenditure claimed by the assessee. It was contended that identical issue was decided for A.Y. 2000-01 in the case of assessee itself (ITA No.5139/M/2012) order dated 06/11/2013, wherein the issue was set-aside to the file of the ld. CIT(A) for which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... book profit u/s 115JB of the Act amounting to Rs. 1,25,46,114/-. Since, we have remanded the aforesaid ground i.e. no.4 to the file of the ld. CIT(A), therefore, the grievance of the assessee will depend upon the outcome of the decision to be taken with respect of aforesaid ground no. 4. Consequently, this ground is consequential to the above, therefore is also allowed for statistical purposes with a direction to decide it a fresh as per the provision of the law after giving finding on the claim of interest thus this ground is allowed for statistical purposes. 5. So far as, charging of interest u/s 234A, 234B and 234C is concerned the ld. Counsel for the assessee contended that it may be sent to the file of the ld. Assessing officer. Howe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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