ITO, Kannur V. Smt C.K.Ashalatha L/hr of late K.P.Divakaran, Kannur

MA 153/COCH/2009

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 7701 (ITAT-COCHIN)
• Duration Of Justice: 2 year(s) 4 month(s) 5 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 17-02-2012
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 10-02-2012
• Assessment Year: 2002-2003
• Appeal Filed On: 12-10-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIJAYAPRABHA
• Keywords: Question of law

Judgement Text

1 MA NO.151 TO 154/COCH/2009 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE SHRI N.R.S. GANESAN (JM) AND SHRI B.R. BASKARA N(AM) M.A. NO.151 TO 154/COCH/2009 (ARISING OUT OF ITA NOS 830 TO 833/COCH/2007) (ASSESSMENT YEARS 2000-01 TO 2003-04) ITO, WD.2(1) VS SMT. C.K. ASHALATA KANNUR L/H OF LATE K.P. DIVAKARAN SUSHEELA VILLA, NO.3, MILL ROAD, KANNUR-2 PAN : NOT AVAILABLE (APPLICANT) (RESPONDENT) APPLICANT BY : SMT. VIJAYAPRABHA RESPONDENT BY : NONE DATE OF HEARING : 17-02-2012 DATE OF PRONOUNCEMENT : 17-02-2012 O R D E R PER N.R.S. GANESAN (JM) THE REVENUE FILED THE ABOVE MISCELLANEOUS APPLICAT IONS ON THE GROUND THAT THERE IS A QUESTION OF LAW ARISES FOR CONSIDERATION IN THE APPEALS OF THE REVENUE. THEREFORE, THE CIRCULAR ISSUED BY THE CBDT FOR FIXI NG THE MONETARY LIMIT FOR FILING THE APPEAL BEFORE THE TRIBUNAL IS NOT APPLICABLE TO THE CASE UNDER CONSIDERATION. ON A QUERY FROM THE BENCH, THE LD. DR SUBMITTED THA T INTEREST ON LOAN TAKEN FROM KFC AND INTEREST ON LOAN TAKEN FROM MRS. INDIRA VASUD EVAN WAS CLAIMED AS DEDUCTION U/ 24 OF THE INCOME-TAX ACT. ACCORDING TO THE LD.DR, THIS CLAIM IS A 2 MA NO.151 TO 154/COCH/2009 LEGAL ISSUE, THEREFORE, THE CIRCULAR CANNOT BE APPL ICABLE. NO ONE APPEARED FOR THE ASSESSEE IN SPITE OF ISSUE OF NOTICE. 2. WE HAVE CONSIDERED THE SUBMISSIONS OF THE LD.DR AND ALSO PERUSED THE ORDER OF THIS TRIBUNAL. THIS TRIBUNAL, WHILE PASSI NG THE ORDER AT PARAGRAPH 3 HAS SPECIALLY MENTIONED THAT THERE IS NO QUESTION OF LA W. MOREOVER, THE ISSUE OF INTEREST ARISES FROM DEPOSIT IS ONLY A FACTUAL ASPE CT. NO QUESTION OF LAW ARISES FOR CONSIDERATION. THEREFORE, WE ARE UNABLE TO UPHOLD THE CONTENTION OF THE LD.DR. ACCORDINGLY THE SAME IS REJECTED. 3. IN THE RESULT, THE MISCELLANEOUS APPLICATIONS OF THE REVENUE STAND DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ON THIS 17 TH DAY OF FEBRUARY, 2012. SD/- SD/- (B.R. BASKARAN) (N.R.S. GANESAN) ACCOUNTANT MEMBER JUDICIAL MEMBER COCHIN, DT : 17 TH FEBRUARY, 2012 PK/- COPY TO: 1. ITO, WD.2(1), KANNUR 2. SMT. C.K. ASHALATHA, L/H OF K.P. DIVAKARAN, SUSHEELA V ILLA, NO.3, MILL ROAD, KANNUR-2 3. CIT(A)-III, KOCHI 4. CIT, KANNUR 5. THE DR (TRUE COPY) BY ORDER ASSTT. REGISTRAR, INCOME-TAX APPELLATE TRIBUNAL, COCHIN BENCH