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Income Tax Appellate Tribunal, DELHI BENCHES : SMC-I : NEW DELHI
Before: SHRI R.S. SYAL
Date of Hearing : 21.07.2016 Date of Pronouncement : 21.07.2016 ORDER This appeal filed by the assessee is directed against the order passed by the CIT(A) on 20.01.2015 in relation to the assessment year 2008-09.
The only issue raised in this appeal is against not allowing deduction u/s 10B in respect of interest of Rs.30,02,961/- assessed as ‘Income from other sources’ against the claim of the assessee being, the same from business.
I have heard the rival submissions and perused the material on record. It is observed that similar issue came up for consideration before the Tribunal in the assessee’s own case for the immediately preceding assessment year, namely, 2007-08. Vide order dated 29.10.2010 in the Tribunal for the A.Y. 2007-08 ( sic 2006-07) has remitted the matter to the file of AO for fresh decision in the light of certain directions given in para 7 of its order. Since the facts and circumstances of the instant case are mutatis mutandis similar to those of the immediately preceding assessment year, respectfully following the precedent, I set aside the impugned order and send the matter back to the file of the AO for a fresh decision in conformity with the directions given by the Tribunal in its earlier order.
In the result, the appeal is allowed for statistical purposes.
The order pronounced in the open court on 21.07.2016.