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2015 (6) TMI 680 - BOMBAY HIGH COURT

2015 (6) TMI 680 - BOMBAY HIGH COURT - TMI - Disallowance under Section 40(a)(ia) - rent payment made without deduction of TDS - ITAT deleted the addition - Held that:- Commissioner of Income Tax (Appeals) as well as the Tribunal has reached a concurrent finding of fact that the payment made by the respondent assessee to its holding company of ₹ 51.91 lacs is not rent but is merely a reimbursement of expenses. Consequently, the occasion to apply Section 195 of the Act does not arise. This .....

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the Income Tax Act, 1961 (the Act) challenges the order dated 14 November 2012 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order pertains to Assessment Year 200809. 2 The appellant has formulated the following questions of law for our consideration: "Whether on the facts and in the circumstances of the case and in law the Income Tax Appellate Tribunal was justified in deleting the disallowance of ₹ 51,91,209/made under Section 40(a)(ia) of the Act, despite .....

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led upon to explain why the amount of ₹ 51.91 lacs should not be disallowed under Section 40(a)(ia) of the Act. The respondent assessee pointed out that the premises occupied by them has been taken on rent by its holding company M/s. Prime Securities Ltd. It was its holding company which paid rent to the landlord of the premises and the respondent assessee merely reimbursed the rent to its holding company. The assessee contended that such reimbursement of expenses does not result in any in .....

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