2020 (7) TMI 784

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....djudicate the following grounds raised by the assessee in respect of levy of interest u/s. 234B of the Act. "2012-13 Ground No.5-Interest under section 234B of the Act On the facts and circumstances of the case and in law, the CIT(A) erred in not holding that prevision of section 234B of the Act are not applicable in the Appellant's case. 2013-14 Ground No.5 On the facts and circumstances of the case and in law, the CIT(A) erred in not holding that provisions of section 234B of the Act are not applicable in the Appellant's case. 2014-15 Ground No.6 On the facts and circumstances of the case and in law, the CIT(A) erred in not holding that provisions of section ....

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....issions, perused the orders of the authorities below and the order of the Tribunal. Identical issue came up before the Tribunal for the A.Y. 2009-10 in assessee's own case in ITA.No.6282/Mum/2012 dated 09.08.2017 wherein the Tribunal decided the issue in favour of the assessee observing as under: - "8. In its appeal the assessee has raised 27 Grounds of appeal. During the course of hearing before us the AR stated that all the grounds were not effective Grounds of appeal, that some of them were arguments only in support of the grounds. Therefore, we are rearranging the issues raised by the assessee in a tabular form. We find that most of them are covered by the orders of the Tribunal delivered in the cases of ICICI Prudential I....

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....s of ICICC and HDFC, so, we allow ground no.5 in favour of the assessee. GOA 6-8, are allowed for statistical purposes, as same advance certain arguments in support of ground no.5. 8.4. Following the order of ICICIC(supra), we decide issue of disallowance of depreciation on assets costing less than Rs. 20,000/- (GOA-9)in favour of the assessee. 8.5. Grounds no. 10,11 and 12 are covered by the orders of the ICICI or HDFC, therefore, all the three grounds stand allowed. 8.6. Next effective ground (GOA 13 and 18) deals with interest U/S.234D of the Act. Before us, the AR stated that 8.7. Ground no.26 is about initiation of penalty proceeding. As the issue is premature, so, we dismiss it. All the ground of appeal rais....