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M/s Jalan Distributors Pvt. Ltd. Versus Commissioner of Income Tax, Kolkata

2015 (10) TMI 1089 - CALCUTTA HIGH COURT

Disallowance of claim of assessee of interest u/s.36(1)(iii) - Held that:- Tribunal had observed that though the Assessing Officer had specifically requested the assessee to file necessary evidence in support of the claim that the premises was used for the purpose of business, the assessee could not submit any evidence to prove that the said premises was used for its business purpose. We further find that on a specific query by the Tribunal the learned counsel had stated that he was unable to su .....

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ndra Das, JJ. For the Petitioner : Mr Ananda Sen, Adv., Mr M Gupta, Adv. and Mr A Samanta, Adv For the Respondent : Mr M P Agarwal, Adv JUDGMENT Soumitra Pal, J. The Court : This appeal under section 260A of the Income Tax Act, 1961 preferred against the order dated 15th October, 2004 passed by the Income Tax Appellate Tribunal, 'C' Bench, Kolkata for the assessment year 1998-99 was admitted on the following substantial question of law: Whether on the facts and in the circumstances of th .....

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he claim of the assessee was not sustainable is perverse ? The facts, as evident from the stay application filed by the appellant which is a part of the Paper Book, are that the appellant-company is engaged in the business of film production, distribution and exhibition. The residential house of the directors of the company is at 3/1 Queens Park, Kolkata- 700019. The said premises is owned by one of the Directors of the company, namely Pritam Jalan, along with other co-sharers having 50% share t .....

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ection 143(1) of the Income Tax Act, 1961. Subsequently, the case was selected for scrutiny. Accordingly notices under section 143(2) and 142(1) were issued and served on the appellant. The appellant appeared for hearing before the Deputy Commissioner of Income Tax and filed details. On 30th March, 2001, the Deputy Commissioner of Income Tax passed an order under section 143(3) assessing the total income at ₹ 5,17,330/-. Aggrieved by the said assessment order, the appellant preferred appea .....

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sallowance of ₹ 3,60,000/- and 63,000/- on the ground that the Assessing Officer had incorrectly disallowed the interest expenditure as well as rental expenditure. Aggrieved, the revenue preferred appeal before the Tribunal. The Tribunal by the impugned order allowed the appeal by holding as under: "We have considered the rival submissions. We find that the A.O. specifically requested the assessee to file necessary evidence in support of its claim that the said premises were used for .....

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as no evidence of any mention of this premises in the insurance policy against fire of the building or in the bank account etc. We find that CIT (Appeals) has decided the issue in favour of the assessee by merely observing that the A.O. should not have drawn any hasty conclusion on non-business use of the premises merely because the assessee had failed to produce any case of the trade licence etc. before him. In the facts of the case we hold that the assessee has failed to lead any evidence to s .....

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