ITAT Delhi Judgments — December 2015

The Tribunal noted the assessee's consistent non-appearance and lack of interest in prosecuting the appeal. Following established legal principles and precedents, the Tribunal decided to dismiss the appeal.

The Tribunal found that the CIT(A) had passed an ex-parte order without a proper speaking order or sufficient opportunity to the assessee. Therefore, the matter was remitted back to the CIT(A) for fresh adjudication on merits.

The Tribunal upheld the CIT(A)'s decision to allow the deduction of interest on the term loan as it was taken for renovation and reconstruction of the property from which rental income was earned. Consequently, the Revenue's appeals were dismissed, and the assessee's appeal was allowed.

The Tribunal held that the Department should not have filed the appeal as the tax effect was below the monetary limit prescribed by CBDT instructions and Section 268A of the Income Tax Act. The appeal was dismissed on this technical ground.