2014 (9) TMI 1015

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....in all the three appeals are identical, therefore, for the sake of convenience, they are clubbed, heard combinedly and disposed of in this consolidated order. Appeal wise adjudication is given in the following paragraphs of this order. I. Grounds raised in the case of Gopal Dineshchandra Tulshan (AY 2006-07) read as under: 1. The CIT (A)-1, Nagpur has erred in sustaining the disallowance of expenditure (interest at Rs. 2,03,227/- u/s 40(a)(ia). 2. The Ld CIT (A) has erred in not appreciating the fact that there is no liability to deduct TDS from interest payment by the appellant. 3. The Ld CIT (A) has erred in not considering the fact that, interest has been paid by the appellant and hence disallowance u/....

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....udice the levy of interest is unjustified, unwarranted and excessive. 2. At the outset, Shri K.P. Dewani, Ld Counsel for the assessees, brought our attention to the above grounds and mentioned that the common issue raised in all the three appeals relates to the applicability of the provisions of section 40(a)(ia) of the Act and the retrospective application of these provisions to the facts of the instant appeals. In this regard, Ld Counsel for the assessee brought our attention to the couple of decisions of the Tribunal namely (i)ITAT, Agra Bench decision in the case of Rajeev Kumar Agarwal vs. Addl CIT vide ITA No.3376/Agra/2013 (AY 2006-07), dated 29.5.2013 and (ii) ITAT, Cochin in the case of Shri Antony D. Mundackal vs. ACIT vide ITA....