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2017 (5) TMI 211 - ITAT MUMBAIClaim of depreciation on building u/s 32 - period of use of premises by assessee - Held that:- We find that the bill was issued in the name of BNS, though he was not in possession of the property after August, 2010 and that the bill was raised for the period for July,2010 to December,2010. As the sale of the flats was also in possession of the property during the said period, so, the bill was issued in his name.But, during the intervening period, he had handed over the possession to the assessee. It is also a fact that society maintenance charges,amounting ₹ 2.37 lakhs were paid by the assessee. In these circumstances, we are of the opinion that the FAA was not justified in holding that BNS was the owner of the property till October,2010. The possession letter clearly establishes the fact of ownership of the flats by the assessee in the month of August, 2010. Therefore, reversing the order of the FAA we hold that the assessee was entitled to depreciation of ₹ 23.68 lakhs.First ground of appeal is decided in favour of the assessee. Disallowance of professional fees paid for compilation of Share Purchase Agreement - Held that:- We find that the FAA has mentioned that the AR of the assessee had stated that there was no objection if the disputed amount was treated as capital expenditure, that accordingly he held that expenditure was capital in nature. Before us, the assessee has not produced any evidence to show that its AR has made no concession before the FAA.There was no reason for the FAA to treat the expenditure in question as capital expenditure,if the AR had not made the concession. Therefore, in our opinion, second ground raised by the assessee deserves to be dismissed. Disallowing a sum being the difference between interest and amount credited in the P&L account based on the information from the AIR database - Held that:- After considering the available material, we are of the opinion that matter needs further verification by the AO. Therefore, in the interest of Justice, we are restoring that the issue to the file of the AO for fresh adjudication. He is directed to afford a reasonable of urgency of into the assessee.Third ground is decided in favour of the assessee, in part
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