Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (8) TMI 910 - AT - Income TaxDenial of claim of expenditure on pasupalan - Held that:- The expenditures claimed by the assessee are not unreasonable and deserves to be allowed. We, accordingly, direct the A.O. to allow the expenditure claimed by the assessee as per his computation of income. - Decided in favour of assessee. Addition on rental income from letting out of property for Bakery business.- Held that:- The stud farm belongs to the assessee, therefore, only the assessee has a right for any rental income from the usage of the premises and there is a strong presumption that Shri Harshadbhai Barot must be collecting rent on behalf of the assessee. Therefore, on preponderance of probabilities, we hold that the rental income belongs to the assessee and have been rightly taxed in his hands. We, confirm the findings of the First Appellate Authority.- Decided against assessee.
|