REWAS PORTS LTD,MUMBAI vs. DCIT 7(2), MUMBAI

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ITA 738/MUM/2015Status: DisposedITAT Mumbai17 November 2017AY 2011-124 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the issue was covered by its earlier decision in the assessee's own case for a previous assessment year. Therefore, the AO was directed to decide the issue on similar lines.

What were the facts?

The assessee claimed interest expenditure under Section 57(iii) of the Income Tax Act. The Assessing Officer allowed only a part of the claimed interest, leading to an appeal by the assessee.

What were the issues?

The primary issue was the allowability of the full interest expenditure claimed by the assessee under Section 57(iii) of the Income Tax Act.

Which sections of the Income-tax Act were involved?

Section 57(iii)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BENCH “D” MUMBAI

Before: SHRI D.T.GARASIA, JM & SHRI RAJESH KUMAR, AM

For Appellant: Shri Madhur Agarwal
For Respondent: Shri Purushottam Kumar
Hearing: 21.9.2017Pronounced: 17.11.2017

Heard together (2 matters)

I.T.A. No.738/Mum/2015
I.T.A. No.1803/Mum/2015

Read from the judgment's own cause title. This page is filed under one of them.

2 and 738/M/2015 आदेश / O R D E R PER RAJESH KUMAR, A. M: These cross-appeals are directed against the order dated 22.12.2014 passed by the ld.CIT(A)-14 for the assessment year 2011-12.

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