C/TAXAP/814/2019 ORDER IN HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 814 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.452/Ahd/2014 for assessment year 2009 2010. 2. Revenue has proposed following questions as substantial questions of law involved in this appeal: 2(A) Whether Appellate Tribunal had erred in law and on facts in upholding order of CIT(A) deleting disallowance of Rs.71,99,242/ made by Assessing Officer on Page 1 of 2 Downloaded on : Mon Jan 20 11:17:58 IST 2020 C/TAXAP/814/2019 ORDER account of deduction under Section 80IB(10) of Act without appreciating fact that Assessing Officer had established with proven evidences that assessee did not fulfill requisite conditions for claiming deduction under Section 80IB(10) of Act? (B) Whether Appellate Tribunal has erred in law and on facts in upholding order of CIT(A) deleting disallowance made by Assessing Officer on account of proportionate interest expense of Rs.8,67,12,000/ 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 11:17:58 IST 2020 Principal Commissioner of Income-tax 2 v. Ganesh Housing Corporation Ltd