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TMI Blog2021 (2) TMI 384X X X X Extracts X X X X X X X X Extracts X X X X ..... all the issues. We do not find any ground much less any substantial question of law to interfere with the order of the Income Tax Appellate Tribunal. The appeal is liable to be dismissed - T.C.A.No.2100 of 2008 - - - Dated:- 5-2-2021 - Hon'ble Mr. Justice M. Duraiswamy And Hon'ble Mrs. Justice T.V. Thamilselvi For the Appellant : Mr.T.R.Senthil Kumar, Senior Standing Counsel For the Respondent : Mr.R.Sivaraman JUDGMENT M.DURAISWAMY, J. Challenging the order passed in I.T.A.No.1266/Mds/2002 in respect of the assessment year 1995-96 on the file of the Income Tax Appellate Tribunal B Bench, the Department has filed the above appeal. 2.The assessee is a Company engaged in the manufacture and sale of Wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erred in deleting the disallowance of interest when the assessee had not produced any evidence to show that the loan on which the interest was paid was taken for the purpose of business of the assessee? 4)Whether on the facts and circumstances of the case, the Tribunal erred in deleting the addition of ₹ 16.13 lakhs under the head information and processing charges ? 4.Heard Mr.T.R.Senthil Kumar, learned senior standing counsel for the appellant/Department and Mr.R.Sivaraman, learned counsel for the respondent/assessee. 5.With regard to the 1st substantial question of law, the CIT (Appeals) found that as per sub-section (3) of Section 35D, the aggregate amount of expenditure referred to in sub-section (2) exceeds an amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 40(a)(i) in respect of the payment of interest or loan. The Tribunal held that the only objection of the Assessing Officer for disallowing the interest was that the respondent did not file complete details which was fully examined by the CIT(Appeals). Before the Appellate Authority, the respondent was able to substantiate that a mistake occurred in rounding of the rupee figure to thousands. Further, the interest paid on loans taken from parties outside India for the purchase of Aircraft, the respondent obtained necessary clearance for non-deduction of TDS under Section 10(15)(iv)(f). The issue with respect to the non-payment of TDS was also substantiated before the Appellate Authority. Thus, the respondent is entitled for the relief. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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