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Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN
Before: Shri Satbeer Singh Godara & Shri Amarjit Singh
O R D E R Per Bench This assessee’s appeal for A.Y. 2010-11 arises against the order of the National Faceless Appeal Centre, Delhi [CIT(A)] dated 10.03.2023, in proceedings u/s. 143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter "the Act").
Heard both parties at length. Case file perused.
The learned counsel for the assessee submits at the outset that both the lower authorities have erred in law and on facts in disallowing its deduction claim u/s. 36(1)(viia) of the Act amounting to Rs. 92,41,386/- despite the fact that this taxpayer’s computation statement itself had added back the very amount as per the documents filed on record. Faced with this situation, the Revenue’s only case before us is that the matter requires more factual reconsideration and then detailed adjudication.
We thus seem it appropriate in the larger interest of justice to restore assessee’s instant issue back to the AO for his afresh verification in very terms within three effective opportunities with a rider that it shall be the taxpayer to plead and prove all the relevant facts before the AO. Ordered accordingly.
In the result, the assessee’s appeal is allowed for statistical purposes.