2019 (4) TMI 545

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....arkar, A.R. For The Respondent : Shri L. P. Jain, Sr. D.R. ORDER PER PRADIP KUMAR KEDIA - AM: The captioned appeal has been f iled at the instance of the Assessee against the order of the Commissioner of Income Tax (Appeals) -1, Ahmedabad ('CIT(A)' in short ), dated 28.02.2017 arising in the assessment order dated 24.02.2016 passed by the Assessing Officer (AO) under s. 143(3) of the I....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ork-in-progress - Rs. 17,34,463/ - and towards non-interest beaing advances - Rs. 8,34,801/- . To delineate, the assessee has shown capital work-in-progress at an amount of Rs. 4,83,38,831/ - in its balance sheet. The disallowance of interest was made thereon by computing interest @9.75% and accordingly the disallowance was worked out at Rs. 17,34,463/ -. It was also noticed by the AO that assesse....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... DR rel ied upon the order of the CIT(A). 8. We have heard r ival submissions. As pointed out on behalf of the assessee, we f ind that the disallowance of interest on capital workin- progress was reversed by the co-ordinate bench in assessee's own case in AY 2012-13. The relevant operative part of the order of the ITAT is reproduced hereunder: "5. With the assistance of the ld.represen....