Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (1) TMI 33 - AT - Income TaxAddition on account of rental income - CIT(A) deleted the addition - Held that:- In the instant case, it is noticed that the assessee disclosed the income which was on account of rent receivable and the rent received during the year. Therefore, the AO was not justified in making the impugned addition and the ld. CIT(A) rightly deleted the same. We, do not see any valid ground to interfere with the findings given by the ld. CIT(A). - Decided against revenue. Addition on account of grant remaining unspent - Held that:- In the present case, it appears that neither the AO nor the ld. CIT(A) had considered the entries mentioned in income and expenditure account by the assessee, in right prospective. We, therefore, deem it appropriate to set aside this issue back to file of the AO for proper verification and to decide afresh in accordance with law after providing due and reasonable opportunity of being herd to the assessee. - Decided in favour of assessee for statistical purposes.
|