The Principal Commissioner of Income-tax 2 v. Ganesh Housing Corporation Ltd - 2020-LL-0113-72

Citation	2020-LL-0113-72
Appellant Name	The Principal Commissioner of Income-tax 2
Respondent Name	Ganesh Housing Corporation Ltd.
Court	HIGH COURT OF GUJARAT AT AHMEDABAD
Relevant Act	Income-tax
Date of Order	13/01/2020
Assessment Year	2011-12
Judgment	View Judgment
Keyword Tags	proportionate interest expenditure • interest free loan
Bot Summary:	This Tax Appeal is filed under Section 260A of the Income Act, 1961 at the instance of Revenue and it is directed against the order dated 15.05.2019 passed by the Income Tax Appellate Tribunal, Ahmedabad Bench 'B', Ahmedabad in ITA No.3084/Ahd/2014 for the assessment year 2011 2012. The Revenue has proposed the following questions as the substantial questions of law involved in this appeal: 2 Whether the Appellate Tribunal had erred in law and on facts in upholding the order of the CIT(A) deleting the disallowance made by the Assessing Officer on account of proportionate Page 1 of 2 Downloaded on : Mon Jan 20 11:18:05 IST 2020 C/TAXAP/816/2019 ORDER interest expense of Rs.8,50,02,900/ without appreciating fact that the assessee company has incurred substantial interest expenses while giving interest free loans 3. For the reasons recorded by us today while dismissing the Tax Appeal No.734 of 2019, this Tax Appeal also fails and is hereby dismissed.

C/TAXAP/816/2019 ORDER IN HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 816 of 2019 PRINCIPAL COMMISSIONER OF INCOME TAX 2 Versus GANESH HOUSING CORPORATION LTD. Appearance: MRS MAUNA M BHATT(174) for Appellant(s) No. 1 for Opponent(s) No. 1 CORAM: HONOURABLE MR.JUSTICE J.B.PARDIWALA and HONOURABLE MR. JUSTICE BHARGAV D. KARIA Date : 13/01/2020 ORAL ORDER (PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) 1. This Tax Appeal is filed under Section 260A of Income Act, 1961 (for short Act ) at instance of Revenue and it is directed against order dated 15.05.2019 passed by Income Tax Appellate Tribunal, Ahmedabad Bench 'B', Ahmedabad in ITA No.3084/Ahd/2014 for assessment year 2011 2012. 2. Revenue has proposed following questions as substantial questions of law involved in this appeal: 2 Whether Appellate Tribunal had erred in law and on facts in upholding order of CIT(A) deleting disallowance made by Assessing Officer on account of proportionate Page 1 of 2 Downloaded on : Mon Jan 20 11:18:05 IST 2020 C/TAXAP/816/2019 ORDER interest expense of Rs.8,50,02,900/ without appreciating fact that assessee company has incurred substantial interest expenses while giving interest free loans? 3. For reasons recorded by us today while dismissing Tax Appeal No.734 of 2019, this Tax Appeal also fails and is hereby dismissed. (J. B. PARDIWALA, J) (BHARGAV D. KARIA, J) GIRISH Page 2 of 2 Downloaded on : Mon Jan 20 11:18:05 IST 2020 Principal Commissioner of Income-tax 2 v. Ganesh Housing Corporation Ltd

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