Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2014 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (5) TMI 771 - ITAT DELHIDeletion of excess rent paid – No fresh deed has been signed - Held that:- CIT(A) was rightly of the view that the increase in rent from last year was due to taking more area on rent of 9000 sq.ft. as against 6000 sq.ft. – the AO has not been able to bring anything on record that this is an inadmissible expenditure u/s 37 of the Act being capital or personal in nature and not incurred for the purpose of business - the rent paid by the assessee has been duly reflected by the holding company and the holding company has shown it as its income from house property paying the applicable tax fully, at the maximum rate and has been accepted in an assessment completed u/s 143(3) of the Act - the addition is not justified and the order of the CIT(A) is upheld – Decided against Revenue.
|