Lal Chand Jaiswal, Kolkata V. I.T.O Wd - 56(2),kolkata, Kolkata

ITA 2042/KOL/2013

• Counselvise Citation: 204223514 RSA 2013
• Duration Of Justice: 1 year(s) 11 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-06-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2008-2009
• Appeal Filed On: 28-06-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MADHU MALATI GHOSH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC , KOLKATA ( BEFORE SHRI P.K.BANSAL , A . M . ) ITA NO. 2042 /KOL/201 3 : ASSTT. YEAR : 2008 - 09 LAL CHAND JAISWAL PAN: A DEPJ 5888L VS ITO, WARD - 56(2 ), KOLKATA (APPELLANT) (RESPONDENT) A PPELLANT BY : NONE RESPONDENT BY : SMT. MADHUMALATI GHOSH, JCIT, SR.DR DATE OF HEARING : 05 .06 .2015 DATE OF PRONOUNCEMENT : 05 .06 .2015 ORDER TH IS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER DATED 01.05 .2013 OF LD. CIT(A) - XX XVI , KOLK AT A FOR THE ASSESSMENT YE AR 2008 - 09. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE, EVEN THOUGH THE NOTICE OF HEARING WAS DULY SERVED ON THE ASSESSEE. I, THEREFORE, DECIDED TO DISPOSE OF THE APPEAL, AFTER HEARING THE LD. DR. 3. I HAVE HEARD THE LD. DR AND CAREFULLY CONSIDERED HIS SUBMISSION. I NOTED THAT THE AO HAS MADE THE DISALLOWANCE UNDER SECTION 40(A)(IA) AMOUNTING TO RS.3,83,834/ - FOR THE FAILURE OF DEDUCTING TAX AT SOURCE UNDER SECTION 194A AND THE INTEREST PAID ON THE LOAN . IT WAS SUBMITTED THAT THE SAID INTEREST HAS NOT BEEN CLAIMED BY THE ASSESSEE AS DEDUCTION OUT OF THE INCOME RETURNED UNDER THE HEAD INCOME FROM BUSINESS . THE ASSESSEE HAS CLAIMED THE DEDUCTION IN RESPECT O F INTEREST PAID ON LOAN I TA NO. 2042 /KOL/2013 LAL CHAND JAISWAL 2 UNDER THE HEAD INCOME FROM OTHER SOURCES . THE AO EVEN THOUGH HAS MADE THE DISALLOWANCE BUT DID NOT CHANGE THE HEAD OF THE INCOME. HE HAS TAKEN COMPUTATION OF THE INCOME, WHILE MAKING THE DISALLOWANCE OF TOTAL INCOME, AS PER THE RE TURN IMPLIEDLY THAT THE INCOME HAS NOT BEEN ASSESSED FROM THE SOURCES AS HAS BEEN RETURNED UNDER THE INCOME FROM OTHER SOURCES NOT U NDER THE HEAD INCOME FROM BUSINESS . T HE PROVISIONS OF SE CTION 40(A)(IA) ARE EXPLICIT CLEAR. THE DISALLOWANCE HAS TO BE M ADE, WHILE COMPUTING THE INCOME UNDER THE HEAD INCOME FROM BUSINESS . IN VIEW OF THIS FACT, I SET ASIDE THE ORDER OF THE CIT(A) AND DELETE THE DISALLOWANCE. 4 . IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE STANDS ALLOWED . ORDER PRON OUNCED IN THE OPEN COURT ON 05 /06 /2015 . SD/ - ( P. K. BANSAL ) ACCOUNTANT MEMBER DATED: 05 /06 /2015 TALUKDAR/SR.PS 1 . LAL CHAND JAISWAL, 114, PRINCEP STREET, KOLKATA 70 0 072 2 ITO, WARD - 56 ( 2 ) , KOLKATA 3 . THE CIT(A), 4. CIT, 5. D.R. TRUE COPY, BY ORDER, ASSTT. REGISTRAR , ITAT, KOLKATA