In the result, the appeal of the assessee is allowed for statistical purposes and the appeal filed by the Revenue is partly allowed for statistical purposes
Bench: Shri Waseem Ahmed & Ms. Madhumita Roy
condone such delay in preferring appeal before us. Both appeals are, therefore admitted. ITA No. 318/Ahd/2020 (A.Y. 2016-17):- 3. The Grounds of appeal raised by the assessee are as under: “1.0 The learned Commissioner of Income Tax (Appeals) erred in law and on facts has held to consider the interest on loans raised by erstwhile GEB for the purpose