Dr. Soumitra Basu, Kolkata V. ITO, Ward-55(2), Kolkata, Kolkata

ITA 2264/KOL/2014

• Counselvise Citation: 226423514 RSA 2014
• Duration Of Justice: 2 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-02-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2006-2007
• Appeal Filed On: 23-12-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: N O N E

Judgement Text

I.T.A. NO . 2 2 6 4 / KOL ./201 4 ASSESSMENT YEAR: 200 6 - 20 0 7 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA SMC BENCH, KOLKATA BEFORE SHRI GEORGE MATHAN , JUDICIAL MEMBER I.T.A. NO. 2 2 6 4 / KOL / 20 1 4 ASSESSMENT YEAR : 200 6 - 20 0 7 DR. SOUMITRA BASU ,.. .......................... ....... .. ..... ........... .. .APP ELL ANT P - 273, BLOCK A, BANGUR AVENUE, KOLKATA - 700 055 [ PAN : A EDPB 9636 C ] - VS. - INCOME TAX OFFICER , ........................... ................... ... . RESPONDENT WARD - 55 ( 2 ), KOLKATA , 54/1, RAFI AHMED KIDWAI ROAD, KOLKATA - 700 016 APPEARANCES BY: N O N E , FOR THE ASSESSEE S HRI RAJESH KUMAR , J CIT, SR. D.R., FOR THE DEPARTMENT DATE OF CONCLUDING THE HEARING : FEBRUARY 2 6 , 2 01 5 DATE OF PRONOUNCING THE ORDER : FEBRUARY 2 6 , 201 5 O R D E R PER GEORGE MATHAN : THIS IS AN APPEAL FILED BY THE ASSESSE E AG AINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS) - XX X V I , KOLKATA IN APPEAL NO. 959 / CIT(A) - XXXVI/K O L/ITO,WD - 55(2)/KOL/2009 - 10 D ATED 28 . 0 8 .201 4 FOR THE ASSESSMENT YEAR 200 6 - 0 7 . 2 . NONE REPRESENTED ON BEHALF OF THE ASSESSEE AND SHRI RAJESH KUMAR , J CIT, SR. D.R. REPRESENTED ON BEHALF OF THE REVENUE. 3 . AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD. SR. D.R. THAT THE ISSUE IN THE ASSESSEE S APPEAL WAS AGAINST THE ACTION OF THE LD. CIT(APPEALS) IN CONFIRMING THE ADDITION OF RS.1,32,519/ - REPRESEN TING THE INTEREST PAID TO BANK IN RESPECT OF THE PERSONAL LOAN TAKEN BY THE ASSESSEE FOR THE PURCHASE OF VEHICLE AND OTHER EXPENSES. LD. SR. D.R. I.T.A. NO . 2 2 6 4 / KOL ./201 4 ASSESSMENT YEAR: 200 6 - 20 0 7 PAGE 2 OF 3 VEHEMENTLY SUPPORTED THE ORDER OF THE ASSESSING OFFICER AND LD. CIT(APPEALS). 4. I HAVE CONSIDERED THE ASSESS MENT ORDER AS ALSO THE SUBMISSION OF THE LD. SR. D.R. AND THE ORDER OF THE LD. CIT(APPEALS). A PERUSAL OF THE ASSESSMENT ORDER SHOWS THAT THE ASSESSING OFFICER HAS DISALLOWED THE INTEREST ALLEGEDLY ON THE GROUND THAT IT RELATED TO A SELF - OCCUPIED HOUSE PRO PERTY. BEFORE THE LD. CIT(APPEALS) THE ASSESSEE HAS EXPLAINED THE REASONS FOR THE LOAN TOWARDS THE RECONSTRUCTION OF THE CHAMBER PURCHASE D AND OTHER EQUIPMENTS FOR NORMAL MEDICAL PRACTICES AND FOR DEVELOPMENT OF HIS CLINIC. FURTHER THE LD. CIT(APPEALS) HAS ALSO RECOGNIZED THAT THE LOAN WAS IN THE NATURE OF PERSONAL LOAN TAKEN FROM BANKS AND FOR PURCHASE OF VEHICLE. ADMITTEDLY THE ASSESSEE IS A MEDICAL PRACTITIONER , THE LOAN TAKEN BY THE ASSESSEE FOR RE - CONSTRUCTION OF THE CHAMBER PURCHASED AND OTHER EQUIPMENTS FOR THE NORMAL MEDICAL PRACTICES. THIS IS AN ALLOWABLE EXPENDITURE. SIMILARLY THE CAR WOULD BE A REQUISITE FOR A DOCTOR WHO HAS TO VISIT HIS CLIENTS AS ALSO ATTEND TO HIS PATIENTS AT VARIOUS HOSPITALS. ADMITTEDLY THE LOAN HAVING BEEN TAKEN FOR THE PURPOSES OF THE BUSINESS OF THE ASSESSEE, THE INTEREST THEREON IS AN ALLOWABLE EXPENDITURE. CONSEQUENTLY THE ASSESSING OFFICER IS DIRECTED TO GRANT THE ASSESSEE THE BENEFIT OF DEDUCTION OF THE INTEREST AS CLAIMED BY THE ASSESSEE. 5 . IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 2 6 TH FEBRUARY , 201 5 . SD/ - GEORGE MATHAN ( JUDICIAL MEMBER) KOLKATA, THE 2 6 TH D AY OF FEBRUARY , 201 5 COPIES TO : (1) DR. SOUM ITRA BASU, P - 273, BLOCK A, BANGUR AVENUE, KOLKATA - 700 055 I.T.A. NO . 2 2 6 4 / KOL ./201 4 ASSESSMENT YEAR: 200 6 - 20 0 7 PAGE 3 OF 3 (2) INCOME TAX OFFICER, WARD - 55(2), KOLKATA, 54/1, RAFI AHMED KIDWAI ROAD, KOLKATA - 700 016 (3) COMMISSIONER OF INCOME - TAX (APPEALS) (4) COMMISSIONER OF INCOME TAX ( 5 ) THE DEPARTMENT AL REPRESENTATIVE ( 6 ) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL KOLKATA B ENCHES, KOLKATA LAHA/SR. P.S .