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2015 (2) TMI 911 - HC - Income TaxProject management fee - ITAT deleted dis allowances - whether fees accrued in the preceding assessment year i.e. 2006-07 not allowable to the assessee in A. Y. 2007-08 under the mercantile system of accounting? - Held that:- CIT( A) and the Tribunal have reached a concurrent finding of fact that the amount claimed as an expenditure of ₹ 339 lakhs being paid as project management fees to M/s. Kumar Builders was only in respect of amount received for sale in the Assessment Year 2007-08. Consequently, no occasion can arise to disallow any part of the expenditure of ₹ 339 lakhs on the assumption that some amount thereof is attributable to an earlier Assessment Year. The finding of fact arrived at by the CIT(A) and the Tribunal is not shown in any manner to be perverse and/or arbitrary. Decided in favour of assessee.
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