2021 (10) TMI 1343

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....61. 2. The appellant craves to be allowed to add and alter any fresh ground(s) of appeal and/or delete or amend any of the ground(s) of appeal. 2. None appeared on behalf of the assessee. We have heard learned DR and perused the relevant material available on record. 3. The solitary ground raised by the Revenue in this appeal relates to deletion of disallowance of Rs. 3,08,75,079/- u/s 36(1)(vii) of the Act by the learned CIT(A). 4. On bare perusal, we find that identical issue raised by the Revenue has already been adjudicated in favour of the assessee by the order of the Tribunal, dated 04.12.2019 passed in ITA No. 2810/Del/2015 for the assessment year 2010-11. The Learned DR did not contradict this factual matrix. The relevant findi....

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....he total receipt. When the method has been consistently accepted for the above year we do not find any reason to defer from that. In view of this we do not find any infirmity in allowing the assessee claim of deduction u/s 36(l)(viii) of the Act applying the ratio of 62.75%. In the result we do not find any merit in ground No. 1 of the appeal. Hence, it is dismissed." 4.1 Further, in assessment year 2014-15 (ITA No. 5969/Del/2017, order dated: 24.08.2021), this issue again decided in favour of the assessee. The relevant findings are reproduced as under: "In so far as the addition of Rs.1,88,65,937/- is concerned, Id. Assessing Officer recorded that for the assessment year 2010-11 also, while not accepting the method adopted by the assess....

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....34543/- pertaining to long term housing loan and computed deduction @20% of Rs. 10.99 crores as deduction. The Id Assessing Officer changed the above ratio from 62.75 % to 55.89% as he considered the total receipt of business for the purpose of working out proportion. In the present case the methodology adopted by the assessee is consistently followed for last eight years. Same was accepted by the revenue without any objection. The only issue is with respect to how the profit of the business for the purpose of long term housing finance shall be worked out. The only issue is that assessee is computed with respect to the total income with respect to the interest income whereas the Id AO has applied the above ratio to the total receipt. When t....