2014 (1) TMI 1857

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.... DR. S.T.M. PAVALAN, JM: This appeal filed by the assessee is directed against the order of the Ld.CIT(A)-40, Mumbai dated 30.12.2011 for the assessment year 1991-92. 2. Grounds No. 1 & 2 are not pressed by the assessee and general in nature respectively and therefore require no adjudication. 3. In Ground No. 3, the assessee has agitated the action of the Ld.CIT(A) in not determining the ....

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....e total income by considering net accretion to various assets. It is observed that on the similar issue in the case of Shri Hitesh S. Mehta (supra), the Tribunal has held that since the Ld.CIT(A) is directed compute the taxable income as per books of account of the assessee in respect of ground no. 3, the additions contested on these grounds are deleted. Following the said decision of the Tribunal....

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.... contradictory material brought on record by the Revenue, following the said order, we decide this ground in favour of the assessee and against the revenue. Ground No. 7 is allowed. 6. The grievance raised in Ground No. 8 is consequent to the findings given in ground no. 7 as above and hence Ground No 8 is allowed. 7. In Ground No. 9, the assessee has agitated the action of the Ld.CIT(A) in ....

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.... claimed by the assessee in the books of account. As we have already directed the Ld.CIT(A) to compute the income as per books of account of the assessee on the expenses debited in the books of account, this will necessarily be allowed by the AO as per the findings given in ground no. 3 of this order. Ground No. 10 is accordingly allowed. 9. Ground No. 11 relates to the chargeability of interes....