(Per : HONOURABLE MR.JUSTICE V. M. SAHAI) We have heard Mrs. Mauna M. Bhatt, learned counsel for the Revenue.
This Tax Appeal has been filed challenging the order of the Income Tax Appellate Tribunal dated 09.07.2010 by which the Tribunal has upheld the orders of the CIT(A), which has allowed deletion of interest payment to the Government of Gujarat. Interest paid by an assessee to Government of Gujarat is an allowable deduction, and therefore, we do not find any illegality in the order passed by the Income Tax Appellate Tribunal. The reason given by the CIT(A) and the Tribunal is that in the earlier year the interest paid to Government of Gujarat has been allowed to be deducted, therefore, there is no reason for the assessing officer not to allow the interest paid to Government of Gujarat. The proposed question of law does not raise any question of law much less any substantial question of law. The Tax Appeal is accordingly dismissed.
(V.M.
SAHAI, J.) (N.V.
ANJARIA, J.) (SN DEVU PPS) Top