2010 (11) TMI 573

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.... the assessee is directed against the order of the Ld. CIT(A), Kolkata dated 21.01.2010 for the assessment year 2006-07 on the sole ground of confirming the disallowance of Rs.7,62,000/- made by the Assessing Officer u/s. 40(a)(ia) read with section 194 I of the Act.   2. Briefly stated facts of the case as stated by the Assessing Officer are that during the course of assessment proceeding....

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....s per section 40(a)(ia) of the Act and accordingly he added the same to the income of the assessee. In appeal, the Ld. CIT(A) held that the Assessing Officer has rightly made the disallowance of Rs.7,62,000/- u/s. 40(a)(ia) of the Act and accordingly he dismissed the assessee's ground of appeal. Being further aggrieved, the assessee is in appeal before us.   3. At the time of hearing befor....

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....nded that as per the said agreement it would be clear that the said property was a joint property and in such a case, it is submitted that if there are number of payees each having a definite and ascertainable share in the property the limit of Rs.1,20,000/- will apply to each of the payee or the co-owner separately. Concluding his submission he prayed to delete the additions so made by the Assess....

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....as not produced for verification. Hence it cannot be established that the individual shares of the co-owners was less than the prescribed limit of section 194 I of the Act. Before us the assessee, for the first time, has produced a letter dated 24.7.2004 of Y. V. Parthasarathy stating that in clause 111(2) of the Lease Deed all the lessors have requested the assesee to issue cheque/demand draft to....