RAM LAL,NEW DELHI vs. ITO, WARD-33(4), NEW DELHI

ITA 2231/DEL/2018Status: DisposedITAT Delhi31 October 2018AY 2011-1214 pages
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What did the Tribunal hold?

The Tribunal allowed the deduction for interest on the housing loan, reversing the CIT(A)'s order. For the unexplained cash deposits, the issue was remanded back to the AO for further verification. The penalty levied was quashed due to procedural defects in the notice and order.

What were the facts?

The assessee claimed a deduction for interest on a housing loan, which was disallowed by the AO due to lack of evidence. The AO also made an addition for unexplained cash deposits and disallowed a deduction under Section 80C. The assessee appealed these decisions.

What were the issues?

Whether the disallowance of housing loan interest and addition for unexplained cash deposits were justified, and whether the penalty was validly levied.

Which sections of the Income-tax Act were involved?

Section 24(b),Section 80C,Section 68,Section 271(1)(c),Section 143(3),Section 274

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Cases cited in this judgment(6)Show list

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Income Tax Appellate Tribunal, DELHI BENCHES: ‘F’, NEW DELHI

Before: SMT. BEENA A PILLAI & SHRI MAHARISHI PRASHANT&

Hearing: 29.10.2018Pronounced: 31.10.2018

Heard together (2 matters)

ITA 2231/Del/18
ITA 1692/Del/16

Read from the judgment's own cause title. This page is filed under one of them.

PER BEENA A PILLAI, JUDICIAL MEMBER Present appeals have been filed by assessee against the orders passed by Ld.CIT(A)-11, New Delhi dated 29/01/16 and 06/03/18 for Assessment Year (A.Y.) 2011-12 on the following grounds of appeal: ITA 1692/Del/16

1.

That having regard to the facts and circumstances of the case, Ld.CIT(A) has erred in law and on facts in confirming the action of Ld.AO in making disallowance of Rs.1,50,000/- u/s 24(b) of the I.T. Act, 196

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