2022 (8) TMI 1599

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....te Sh. Sahil Agarwal, CA ORDER PER N.K. BILLAIYA, AM: This appeal by the revenue is preferred against the order of the CIT(A)-36, New Delhi dated 03.04.2019 pertaining to A.Y. 2015-16. 2. The solitary grievance of the revenue is that the CIT(A) erred in deleting the disallowance made by the AO on account of interest paid amounting to Rs. 5,16,16,215/-. 3. Representatives were heard ....

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....t similar situation arose in A.Y. 2005-06 to 2011-12 where the assessment was completed after thorough scrutiny and no such disallowance was proposed / made by the AO. It was explained that the loan was borrowed for business purposes and there is no adverse finding given in earlier assessment years. 7. The contention of the assessee did not find favour with the AO who proceeded by computing pro....

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....ellant has also been allowed by the CIT(A)-24, New Delhi for A.Y. 2013-14 and 2014-15 vide appeal no. 45/2016-17 dated 12.12.2018 and appeal no. 179/2016-17 dated 14.12.2018 respectively. Copy of the appellate orders for A.Y. 2012-13, 2013-14 and 2014-15 have been filled during the appellate proceedings and are kept on record. 4.3.3.6. Considering the totality of facts and circumstances o....

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....lowances on account of interest claimed by the assessee were made. 10. The disallowance was made for the first time in A.Y. 2012-13 which was deleted by the CIT(A) and the order of the CIT(A) was upheld by this Tribunal in ITA No. 5988/Del/2017 order dated 17.01.2022. The Hon'ble Supreme Court in the case of Radhasoami Satsang Vs. CIT 193 ITR 321 has held that if the facts are the same and the ....