2025 (8) TMI 358

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.... The Respondent : Shri C Dharani Nath, Sr. D.R. ORDER The appeal filed by the assessee is against the order passed by the Ld. Commissioner of Income Tax (Appeals), (in short "Ld. CIT(A)"), National Faceless Appeal Centre (in short "NFAC"), Delhi on 16.09.2024 for A.Y. 2018-19. 2. The grounds of appeal raised by the assessee are as under: "1. The Ld. CIT(A) has erred in law on fac....

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....taxable u/s. 56 of the Act without allowing the pro-rata expenditure incurred u/s. 57 of the Act. It is submitted that only the net interest income, after allowing the pro-rata expenditure incurred, should be taxed. It is submitted that the same be allowed now. 3. The order passed by the Ld. CIT(A) is bad in law and contrary to the provisions of law and fats. It is submitted that the same....

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....,211/- interest income received from Cooperative Bank and Rs. 87,890/- interest income from Nationalized Bank. 4. Being aggrieved by the assessment order the assessee filed appeal before the CIT(A). The CIT(A) partly allowed the appeal of the assessee. 5. As regards, Ground No. 2 the assessee has not pressed the said ground. Hence, Ground No. 2 is dismissed. As regards, Ground No. 1 the Ld. ....