ASHIRBAD BEHERA vs. ASST.COMMNR.OF INCOME TAX
In the result, the appeal [ITA/7/2020] filed by the
ITA/19/2015HC Orissa03 Mar 2022
Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 27Th February, 2023 Appearance : Mr. Smita Das De, Adv. …For The Appellant. Mr. J.P. Khaitan, Sr. Adv. Mr. Pratyush Jhunjhunwala, Adv. Ms. Swapna Das, Adv. …For The Respondent.. The Court : This Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act, 1961 (The ‘Act’ For Brevity) Is Directed Against The Order Dated 18Th May, 2016 Passed By The Income Tax Appellate Tribunal, “B” Bench, Kolkata (The Tribunal) In Ita No.665/Kol/2012 & Ita No.325/Kol/2012 For The Assessment Year 2008-09. The Appeal Was Admitted On 12Th December, 2019 On The Following Substantial Question Of Law: “(I) Whether On The Facts & In The Circumstances Of The Case, The Learned Income Tax Appellate Tribunal Erred In Law In Holding That The Assessee Has Sufficient Own Funds, Expenditure By Way Of Interest Are Not To Be Taken In Account
Section 14ASection 260ASection 32(1)(iia)
depreciation of Rs 9,02,49,544/- being the
carry forward figure from the previous year under section
32(1)(iia) of the Income Tax Act, 1961?”
We have heard Ms. Smita Das De, learned standing
counsel appearing for the appellant/revenue and Mr. J.P.
Khaitan, learned senior counsel assisted by Mr. Pratyush
Jhunjhunwala and Ms. Swapna Das, learned advocates appearing
