2021 (1) TMI 526

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....din Ansari, Sr. D. R. ORDER PER SUCHITRA KAMBLE, JM : This appeal is filed by the assessee against the order dated 11.02.2019 passed by CIT (Appeals), Bareilly, for Assessment Year 2015-16. 2. The grounds of appeal are as under:- 1. The order of Ld. CIT (A) has erred in law and on facts on both. 2. The Ld. CIT (Appeals) has erred in law and on facts on both while reje....

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.... very much high than the immediate preceding year. 6. That the Ld. AO is highly unjustified and against the facts for making disallowance of Rs. 1,09,62,523/- out of interest on borrowed funds by alleging that an interest free advance of Rs. 9,13,54,364/- has been given while on another side there is huge trade creditors amounting to Rs. 19,71,27,160/-. 7. Any other ground of app....

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....ard both the parties and perused all the material available on record. It is pertinent to note that the CIT (Appeals) has not given any categorical finding on merits of the case and also did not give sufficient opportunity of hearing to the assessee. Therefore, the CIT (Appeals) was not right in dismissing the appeal of the assessee without giving proper opportunity of hearing. Hence, we are reman....