PRANAV OMPRAKASH KHAKE DISTILLERIES PRIVATE LIMITED,AURANGABAD vs. THE INCOME TAX OFFICER, WARD-4(5), PUNE

ITA 836/PUN/2023Status: DisposedITAT Pune06 October 2023AY 2020-215 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the expense incurred for transporting water for bamboo trees was not linked to the business of earning lease rental income from a liquor license. Therefore, it could not be allowed as a deduction against that income.

What were the facts?

The assessee claimed a deduction of Rs. 64,45,828/- for transportation of water to grow bamboo trees. This expense was sought to be set off against lease rental income from a liquor license. The Assessing Officer and CIT(A) disallowed this deduction.

What were the issues?

Whether expenses incurred for a separate activity (growing bamboo trees) can be deducted against income from a different business activity (lease rental income from liquor license).

Which sections of the Income-tax Act were involved?

Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SMC BENCH, PUNE

Before: SHRI R.S. SYAL

For Appellant: Shri M.K. Kulkarni

For Respondent: Shri Kumar Arvind Bhardwaj

आदेश की प्रतिलिपि अग्रेपिि/Copy of the Order is forwarded to: अपीऱधर्थी / The Appellant; 1. प्रत्यर्थी / The Respondent; 2. 3. The Pr.CIT concerned 4. विभागीय प्रविविवि, आयकर अपीलीय अविकरण, SMC, Pune / DR, ITAT, Pune गार्ड फाईल / Guard file 5. आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अविकरण ,पुणे / ITAT, Pune

Date 1. Draft dictated on 05-10-2023 Sr.PS 2. Draft placed before author 06-10-2023 Sr.PS 3. Draft proposed & placed before the JM second member 4. Draft discussed/approved by Second JM Member. 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *

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