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2016 (8) TMI 98 - HC - Income TaxAddition being the difference between the annual lease rent receivable and received - assessee paid the full amount of lease rent of ₹ 1,18,42,200/- and the three companies, the lessor, the assessee and the sub-lessee were sister concerns - Held that:- There is no denial of the fact that the bona fide of the transaction was never in dispute. There is evidence to show that the assessee resolved to remit the sum of ₹ 1.5 crore. There is also evidence to show that the assessee received only a sum of ₹ 75 lakhs. In that view of the matter, the addition of the sum of ₹ 1.5 crore, made by the Assessing Officer and upheld by the CIT(A) was rightly deleted by the learned Tribunal. In that view of the matter, the question formulated is answered in the affirmative and against the revenue.
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