9911796707
TMI Blog2023 (3) TMI 1345X X X X Extracts X X X X X X X X Extracts X X X X ..... 2016-17. 2. The brief fact of the case is that the assessee is an individual and Non-Resident Indian. For the Assessment Year 2016-17, the assessee filed his Return of Income claiming a loss of Rs.2,90,621/- 2.1 On verification of the computation of Income, the Assessing Officer found that the assessee has claimed interest expenses of Rs. 11,45,971/- under "Income from Other Sources" on account of interest paid to SBI loan. However the assessee has not shown any income from the said property. The assessee was requested to show cause as to why the said interest expenses of Rs.11,45,971/- should not be disallowed u/s. 57 of the Act. 2.2. The assessee replied vide email dated 29.12.2018 that he is a Non-Resident and had taken loan for self ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pellant submissions, it is seen that the appellant has dividend income (exempt from tax) of Rs.10,980/-, Interest from saving bank account of Rs.4,562/-, Income from other sources of Rs.8,55,350/- and has claimed deduction of interest paid to SBI loan account of Rs.11,15,064/-, SBI loan processing charges of Rs.27,500/- and bank charges of Rs.3,407/- and thus loss of Rs.2,86,059/-. However in the written submission the appellant admitted to have purchased, flat from which he claimed to have carrying out some professional activities whenever he came to India. During the assessment proceedings the appellant did not furnish the nature of his profession and proof use of the flat for the profession. He did not claim any income from the flat and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the purchase of the residential fist from where the claim of carrying out profession has been made and to the professional income claimed. Thus there is no ground on which the bank loan related expenses including the interest can be allowed a/157 of the Act and for that matter even u/s.27 of the hot 5.3 In the facts & circumstances, I do not find any basis to interfere with tine assessment order mate and the addition of Rs.11,45,971/- is confirmed. The rated grounds 1 and II are dismissed. 4. Aggrieved against the same, the assessee is in appeal before us raising the following Grounds of Appeal: 1. The learned Commissioner of Income Tax (Appeals)-13, Ahmedabad erred in upholding the validity of order passed u/s 143(3) of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the assessee before the Lower Authorities, the concurrent findings made by the Lower Authorities does not require any interference. The Ld. D.R. further submitted that the grounds raised by the assessee are without any material evidences, therefore the appeal is liable to be dismissed. 5. We have given our thoughtful consideration and perused the materials available on record. Before us except the Grounds of Appeal, no material has been placed on record. However the findings of the Ld. CIT(A), the assessee admitted to have purchased a flat from which he claimed to have carrying out some professional activities whenever he came to India. However the assessee has not furnished his nature of profession and proof of use of the flat for the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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