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TMI Blog2012 (7) TMI 297X X X X Extracts X X X X X X X X Extracts X X X X ..... ich had been actually paid during the previous year, without deduction of TDS - AO, should verify the actual amount of rent paid by the assessee during the relevant financial year from the relevant records and adjudicate the issue afresh – matter remanded to AO - appeal of the revenue is partly allowed. - ITA No.1436/CHD/2010 - - - Dated:- 28-5-2012 - SHRI H.L.KARWA, SHRI MEHAR SINGH, JJ. Appellant by: Shri Akhilesh Gupta Respondent by : Shri D.K.Goyal ORDER PER MEHAR SINGH, AM The present appeal filed by the Revenue is directed against the order dated 07.10.2010 passed by the ld. CIT(A) u/s 250 of the Income-tax Act,1961 ( in short 'the Act' ) . 2. In this appeal, the Revenue has raised the following Grounds ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gs, recorded in para 3 of the appellate order under appeal . Such findings are reproduced hereunder : 3. During the appeal proceedings, the AR submitted that this issue is covered in favour of the appellant f or the A.Y. 2006-07 by the order of the CIT(A) dated 7.6.2010 in appeal No. 311/SRS/2008-09 wherein was held that the case of the appellant clearly falls u/s 2(13) of the IT Act i .e. an adventure in the nature of trade and therefore, the interest claimed was allowed. The issue under consideration is same as that of A.Y. 2006-07. Therefore, the disallowance of interest claimed by the AO is deleted and this ground of appeal is allowed. 5. Ld. CIT(A) , having regard to the facts of the case and findings of the CIT(A) , on simila ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is squarely covered by the case of Jaipur Vidyut Nigam Ltd. v DCIT reported in 123 TTJ 888, as submitted by the AR. Following the above, the disallowance made by the AO is directed to be deleted and the ground of appeal is allowed. 8. Ld. 'AR' , vehemently contended that the issue is covered by the decision of the Special Bench of Vishakhapatnam Tribunal in ACIT Vs. Merilyn Shipping Transports 136 ITD 23 (Vishakhapatnam) . He also refer red to page 13 of the Paper Book, for the purpose of demonstratng that the amount of Rs.1,98,000/- representingrent , has been paid by the assessee appellant , as is evident from the audit report . He also refer red to page 20 of the Paper Book, which is Profit Loss Account , whereby an amount of Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to me, such construction would not lead to absurdity because there is nothing in this context or in the object of this statute to suggest to the contrary. It is a cardinal principle of interpretation that the words of a statute must be prima facie given their ordinary meaning, when the words of the statute are clear, plain and unambiguous then the courts are bound to give effect to that meaning. The literal rule of interpretation really means that there should be no interpretation of the statute, rather in other words, we should read the statute as it is without doing any violence to the language. In the present dispute before us, the word "payable" used in section 40(a)(ia) of the Act is to be assigned strict interpretation, in view of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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