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2019 (2) TMI 527 - HC - Income TaxDisallowing the entire business expenses being Bank charges, Depreciation, Interest on vehicle, Electricity Charges and Telephone charges - Held that:- We are of the view that the AO has misconstrued the income. So far facts are concerned, the expenses claimed by the assessee are towards the heads stated hereinabove and are not relatable to the subleasing of the property as contended by the AO. Therefore, we are of the view, whether the expenses are relatable purely to the business of subleasing the property, or expenses incurred in the regular course of business, is a matter of fact, which is to be considered by the AO. We are of the view that the matter requires to be remanded to the AO for considering the material available with him and thereafter, come to a conclusion whether expenses are required to be allowed or not. Appeal is disposed off. The matter is remanded to the Assessing Officer for a fresh consideration. All contentions are kept open.
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