2023 (9) TMI 1693

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....AO disallowed the interest income which the assessee has not recognized as interest as income for the year based on the order of the earlier Assessment Years. The said disallowance has been deleted by the ld. CIT(A) following the order of the ITAT in assessee's own case. The Hon'ble Delhi High Court in 125 taxman 1094 has dismissed the appeal of the revenue holding as under: "8. We find substance in the contention of learned counsel for the assessee. 9. Section 44 of the Act is a special provision dealing with the computation of profits and gains of business of insurance. It being a non obstante provision, has to prevail over other provisions in the Act. It clearly provides that income from insurance business has to be com....

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....ew taken by the Tribunal. No question of law, much less a substantial question of law, survives for our consideration. Consequently, both the appeals are dismissed." 3. Since, the issue has attained finality by the order of the Hon'ble Delhi High Court, the appeal of the revenue on this ground is dismissed. Guest House repairing: 4. The disallowance of expenditure made on account of guest house repairing has been consistently held in favour of the assessee by the Co-ordinate Bench of ITAT for A.Y. 2000-01, A.Y. 2001-02, A.Y. 2003-04, A.Y. 2005-06, A.Y. 2007-08, A.Y. 2008-09, A.Y. 2010-11 and A.Y. 2011-12. Since, the addition has been consistently being deleted, in the absence of any change in the factual matrix and legal propositio....