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2022 (2) TMI 764 - AT - Income TaxDisallowance amount transferred to asset replacement account from the maintenance fees & charges - assessee is not the owner of the property and plant/equipments installed in the complex and it adopted this method to avoid being taxed on the amount by way of a colourable device - Whether total maintenance charges received by the appellant irrespective of its nomenclature constitutes revenue receipts and appropriation out of the same for so called sinking funds cannot be allowed as deduction? - HELD THAT:- The assessee company is a part of the Unitech Group. It would be pertinent to refer to the judgment in the case of Bhupinder Singh Vs. Unitech Ltd.[2020 (1) TMI 1185 - SUPREME COURT] wherein the Hon'ble Supreme Court approved the proposal of the Ministry of Corporate Affairs, Government of India vide its order whereby the erstwhile management of Unitech was superseded and constitution of new management was approved. This appeal filed by the Revenue is dismissed.
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