2019 (5) TMI 94

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....hereinafter referred to as Act) dated 22/03/2016 by the ld. Income Tax Officer - 2(2)(3), Mumbai (hereinafter referred to as ld. AO). Since identical issues are involved in these appeals, they were heard together and are being disposed off by this consolidate order, for the sake of convenience. The facts of A.Y.2013-14 are taken up for adjudication and the decision rendered thereon would apply with equal force for A.Y.2014-15 also except with variance in figures. 2. The first common issue to be decided in this appeal is as to whether the ld. CIT(A) was justified in deleting addition made on account of interest accrued on outstanding debt in the sum of Rs. 1,31,53,000/- in the facts and circumstances of the case. 2.1. We have heard ....

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....ncome by the assessee during the pendency of suit (No. 105 of 1986) in Bombay City Civil Court. In this regard, we have perused the provisions of the said section 34 of the CPC and the same reads as under: 34. Interest:(1) where and in so far as a decree is for the payment of money, the Court may, in the decree, order interest at such rate as the court deems reasonable to be paid on the principal sum adjudged, from the date of the suit to the date of the decree, in addition to any interest adjudged on such principal sum for any period prior to the institution of the suit, [with further interest at such rate not exceeding six per cent per annum, as the Court deems reasonable on such principal sum], from the date of decree to the dat....

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....by the CIT (A) in paras 4.1.4 and 4.1.5 of his order. Considering the above, we are of the opinion, the conclusion drawn by the CIT (A) is fair and reasonable and it does not call for any interference. Accordingly, relevant grounds raised by the Revenue in all the four appeals are dismissed." 7. Since, the identical issue has been decided by the coordinate Bench in favour of the assessee in assessee's own case ITA No. 5260/Mum/2015 by following the earlier orders passed by the Mumbai ITAT in the assessee's appeal, ITA No. 7392-7398/M/2013 and since there is no change of facts in the present case, we respectfully following the decision of the coordinate Bench and dismiss the sole ground of appeal of the revenue." 2.2. The decisio....