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Income Tax Appellate Tribunal, DELHI BENCH : SMC : NEW DELHI
Before: SHRI R.S. SYAL, VICE-
This appeal by the Revenue and the Cross Objection by the assessee arise out of the order passed by the CIT(A) on 02.03.2015 in relation to the assessment year 2011-12.
The first ground of the Revenue’s appeal is against the deletion of addition of Rs.3,07,573/- made by the Assessing Officer on account of disallowance of interest on borrowed funds. The second ground is against the deletion of addition of Rs.36,65,923/- u/s 14A of the Act.
I have heard the rival submissions and perused the relevant material on record. It is clear from the orders of the authorities below as has been admitted by the ld. DR that the decision on both the grounds for this year is based on the view taken in an earlier year. The ld. AR placed on record a copy of the order passed by the Tribunal on 25.05.2017 in in assessee’s own case for the assessment year 2009-10 in which the action of the CIT(A) in deleting the similar additions has been upheld. The ld. DR could not point out any distinguishing fact of the instant year vis-à-vis the assessment year 2009-10 considered and decided
CO No.225/Del/2015 by the Tribunal. Respectfully following the view taken by the Tribunal in the assessee’s own case for assessment year 2009-10, I uphold the impugned order. The ld. DR did not press the Cross Objection filed by the assessee.
In the result, both the appeal and the Cross Objection are dismissed.
The decision was pronounced in the open court on 01st June, 2017.