2025 (3) TMI 1672

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....AR For the Respondent : Shri Shailendra Shrivastava - Ld. Sr. DR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. Aforesaid appeals by assessee for Assessment Years (AY) 2011- 12 to 2013-14 arises out of separate orders of first appellate authority. The facts and issues are admittedly the same. First, we take up appeal for AY 2011-12 which arises out of an order of learned Commissione....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t it received interest of Rs. 35.13 Lacs but it paid interest of Rs. 50.47 Lacs. In other words, the assessee received interest at lower rates but paid interest at higher rates. The Ld. AO rejected the same and added the differential of Rs. 15.34 Lacs to the income of the assessee. 3.2 The assessee sold one flat No.1005 for Rs. 13.50 Lacs as against stamp duty value of Rs. 14.08 Lacs. The Ld. A....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d deleted interest disallowance. Taking the same view, we delete impugned interest disallowance. 5. So far as the addition of Rs. 0.58 Lacs is concerned, we find that difference in value is less than 5% and therefore, this addition stand deleted. The addition of Rs. 0.25 Lacs stand confirmed since expenses relating to transfer of property only is an allowable deduction while computing capital g....