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Income Tax Appellate Tribunal, “E” BENCH, MUMBAI
Before: SHRI D. KARUNAKARA RAO & SHRI AMARJIT SINGH
सुनवाई की तायीख / Date of Hearing : 27.10.2016 घोषणा की तायीख /Date of Pronouncement : 27.10.2016 आदेश / O R D E R PER BENCH:
There are five appeals under consideration involving the assessment years 2000-01 to 2005-06. All these appeals are filed by the Revenue against the different orders of the CIT (A)-18, Mumbai. The common issue raised in these appeals relates to the decision of the CIT (A) in directing the AO to allow deduction of interest u/s 24(b) of the Act. Since, the above issue raised in all these appeals is identical and the only difference is in figures, therefore, for the sake of convenience, they are clubbed heard combinedly and disposed off in this consolidated order. Appeal wise adjudication is given in the following paras of this order.
Before us, Ld Counsel for the assessee brought our attention to the grounds raised in these appeal which revolve around the only issue relating to the allowability of deduction of interest u/s 24(b) of the Act and demonstrated that total tax effect in