M/s. Shree Ganesh Company, Kolkata V. ACIT, Circle - 36, Kolkata, Kolkata

ITA 702/KOL/2010

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 2470 (ITAT-KOLKATA)
• Duration Of Justice: 3 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-07-2010
• Appeal Filed By: Assessee
• Bench Allotted: B
• Assessment Year: 2005-2006
• Appeal Filed On: 09-04-2010
• Court: TRIBUNAL
• Department Lawyers: A K PRAMANIK
• Assessee Lawyers: S L KOCHAR

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : KOLKATA () . . , , ! .'#. , $% [BEFORE SRI B. R. MITTAL, JM & SRI C. D. RAO , AM] !& !& !& !& / ITA NO.702 /KOL/2010 '( )* '( )* '( )* '( )*/ // / ASSESSMENT YEAR : 2005-06 M/S. SHREE GANESH COMPANY -VS- ASSISTANT COMMISSI ONER OF INCOME-TAX, (PA NO. AASFS 4213 P) CIRCLE-36, KOLKATA. (,- / APPELLANT ) (./,-/ RESPONDENT ) FOR THE APPELLANT: : 0 /SRI S. L. KOCHAR FOR THE RESPONDENT 0 /SRI A. K. PRAMANIK $1 / ORDER PER B. R. MITTAL, ( . . . . . . . . ) )) ), , , , ) : THE ASSESSEE HAS FILED THIS APPEAL FOR ASSESSMENT Y EAR 2005-06 AGAINST THE ORDER OF LD. CIT(A) DATED 1 ST JANUARY, 2010 ON THE FOLLOWING GROUNDS : 1. FOR THAT THE LD. CIT(A) ERRED IN UPHOLDING THE ORDER OF THE ASSESSING OFFICER IN NOT ALLOWING DEDUCTION OF LEASE RENT PAID AGAINST THE R ENTAL INCOME. 2.FOR THAT THE LD. CIT(A) ERRED IN CONFIRMING THE D ISALLOWANCE OF INTEREST OF RS.7,21,261/- MADE BY THE AO. 2. IN RESPECT OF GROUND NO. 1 OF THE APPEAL, WE HAV E HEARD THE LD. REPRESENTATIVES OF THE PARTIES AND HAVE PERUSED THE ORDERS OF THE A UTHORITIES BELOW. 3. WE OBSERVE THAT THE ASSESSEE CLAIMED TO HAVE P AID RS.1,46,400/- TOWARDS LEASE RENT FOR THE BUILDING FOR WHICH THE ASSESSEE HAS SH OWN THE INCOME FROM HOUSE PROPERTY AT RS.14,91,537/-. DURING THE COURSE OF HEARING, T HE LD. AR PRODUCED BEFORE US THE COPY OF THE LEASE DEED ENTERED INTO. THE LD. AR HA S ALSO PRODUCED THE COPIES OF THE EARLIER ASSESSMENT ORDER EVIDENCING THAT IN THE EAR LIER ASSESSMENT YEAR, THE LEASE RENT PAID HAS BEEN ALLOWED WHILE COMPUTING THE RENTAL IN COME FROM THE HOUSE PROPERTY. THE LD. D.R. HAS NOT DISPUTED THE GENUINENESS OF PAYME NT MADE BY THE ASSESSEE IN RESPECT OF THE SAID PROPERTY FROM WHICH THE ASSESSEE HAS DE RIVED RENTAL INCOME. CONSIDERING THE FACTS OF THE CASE, WE ARE OF THE CONSIDERED VIE W THAT THE AUTHORITIES BELOW WERE NOT JUSTIFIED IN DISALLOWING THE LEASE RENT PAID BY TH E ASSESSEE WHILE COMPUTING THE RENTAL 2 INCOME OF THE PROPERTY. THEREFORE, WE ALLOW GROUND NO. 1 OF THE APPEAL TAKEN BY THE ASSESSEE BY DIRECTING THE AUTHORITIES BELOW TO ALL OW THE LEASE RENT OF RS.1,46,400/- PAID BY THE ASSESSEE WHILE COMPUTING THE INCOME FROM HOU SE PROPERTY. 4. THE GROUND NO. 2 OF THE APPEAL TAKEN BY THE ASSE SSEE IS NOT PRESSED FOR. HENCE, GROUND NO. 2 OF THE APPEAL IS REJECTED. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED IN PART ORDER PRONOUNCED ON 30.07.2010 SD/- SD/- . .. .'# '#'# '#. .. . , , , , $% $% $% $% . . . . . . . . (C. D. RAO) (B. R. MITTAL) ACCOUNTANT MEMBER JUDICIAL MEMBER ( (( (#% #% #% #%) )) ) DATED : 30 TH JULY, 2010 23 '45 6 JD.(SR.P.S.) $1 7 .8 9$8):- COPY OF THE ORDER FORWARDED TO: 1. ,- /APPELLANT - M/S. SHREE GANESH COMPANY, C/O S. L. KOCHAR, ADVOCATE, 86, CANNING STREET, KOLKATA-1. . 2 ./,- / ACIT, CIRCLE-36, KOLKATA 3. 1'/ THE CIT, KOLKATA 4. 1' ()/ THE CIT(A), KOLKATA. 5. AB .' / DR, KOLKATA BENCHES, KOLKATA /8 ./ TRUE COPY , $1'C/ BY ORDER , D !5 / DEPUTY REGISTRAR .