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TMI Blog2021 (10) TMI 1261X X X X Extracts X X X X X X X X Extracts X X X X ..... rcumstances, we set aside the order impugned and remand the matter to the Assessing Officer to provide an opportunity to the assessee to furnish the Annexure/Schedule mentioned in the agreements in support of her claim made, without answering the substantial questions of law raised. The impugned order passed by the Income Tax Appellate Tribunal, Bengaluru Bench C , Bengaluru, is set aside. The matter is remanded to the Assessing Officer for reconsideration keeping open all the rights and contentions of the parties. - I.T.A.No.377/2018 - - - Dated:- 22-9-2021 - HON BLE MRS.JUSTICE S. SUJATHA AND HON BLE MR. JUSTICE RAVI V. HOSMANI APPELLANT (BY SRI A. SHANKAR, SENIOR COUNSEL A/W SRI BHAIRAV KUTTAIAH, ADV. FOR SRI M. LAVA, ADV.) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... officer also disallowed deduction claimed under Section 24 (b) of the Act in relation to income from house property. Being aggrieved, the assessee preferred an appeal before the Commissioner of Income Tax (Appeals)-4, Bengaluru. 4. Learned Commissioner of Income Tax (Appeals) allowed the appeal in part granting the relief of deduction claimed by the assessee Under Section 24 (b) of the Act, however, denying the relief insofar as the deduction disallowed u/s 57 (iii) of the Act. Being aggrieved, the appellant-assessee as well as the Revenue preferred appeals before the Tribunal. 5. The Tribunal, after haring parties, passed a common order upholding order of the Commissioner of Income Tax (Appeals)-4, dismissing the appeals of both th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12.2007 and 21.5.2008 were made available either before the authorities or before the Tribunal. The Tribunal has extracted the relevant paragraphs of the agreement entered into between the assessee and the lessee with respect to furniture and fittings and the same reads thus: Clause 1.1 of the agreement dated 05.12.2007 In consideration of the hire charges herein reserved and the covenants herein contained, the Lessor does hereby agree to demise unto the Zinnov, by way of hire, the Fittings and Fixtures provided in the Schedule Property and as at Annexure A TO HOLD the same unto the Zinnov, for a period of Nine (9) Years from the Hire Commencement Date and to expire after a period of 9 (Nine) years there from, PAYING THEREFOR, an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... being relevant. At this juncture, learned senior counsel representing the assessee requested for an opportunity to furnish the said particulars referred to, in the agreements dated 05.12.2007 and 21.05.2008 to establish the nexus for claiming the deduction under Section 57(iii) of the Act with the borrowed funds. 12. It is discernable that the Tribunal has dismissed the appeal solely on the ground that the Annexure/Schedule mentioned in the agreements placed on record by the assessee were not made available to decide the issue of deduction under Section 57 (iii) of the Act. As such, we are of the considered opinion that providing one more opportunity to the assessee to furnish the details would not prejudice the rights of the Revenue. G ..... X X X X Extracts X X X X X X X X Extracts X X X X
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