ITO, CHENNAI V. M/s. Makisham Estates Ltd., CHENNAI

ITA 786/CHNY/2011

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 61197 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 1 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-06-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 04-06-2012
• Assessment Year: 2007-2008
• Appeal Filed On: 29-04-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIKRAMADITYA JT
• Assessee Lawyers: MRS G VARDINI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI BEFORE DR. O.K. NARAYANAN, VICE -PRESIDENT AND SHRI VIKAS AWASTHY, JUDICIAL MEMBER ITA NO.786/MDS/2011 (ASSESSMENT YEAR: 2007-08) THE INCOME TAX OFFICER, COMPANY WARD IV(1), CHENNAI-600 034. VS. M/S. MAKIZHAM ESTATES LTD., 44-46, BBC PLAZA, 2 ND FLOOR, 178-180, NORTH USMAN ROAD, T.NAGAR, CHENNAI-600 017. PAN: AAACM7696K (APPELLANT) (RESPONDENT) APPELLANT BY : MR. VIKRAMADITYA, SR. AR RESPONDENT BY : MRS. G .VARDINI, ADVOCATE DATE OF HEARING : 4 TH JUNE ,2012 DATE OF PRONOUNCEMENT : 6 TH JUNE, 2012 O R D E R PER VIKAS AWASTHY, JUDICIAL MEMBER: THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE IMPUGNING THE ORDER OF THE CIT(A)-V, CHENNAI DATED 31.1.2011. THE ONLY GROUND ASSAILED BY THE REVENUE IS THAT THE CIT(A) HAS ERRED IN DELETING THE DISALLOWANCE U NDER SECTION 40(A)(IA) ON INTEREST PAID ` 19,92,035/- AND RENT ` 1,80,000/- WITHOUT TDS. 2. THE ASSESSEE HAS FILED ITS RETURN OF INCOME FOR THE ASSESSMENT YEAR 2007-08 ON 30.10.2007 ADMITTING NIL