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Principal Commissioner of Income Tax Versus M/s Ihdp Global Pvt. Ltd.

2016 (4) TMI 403 - ALLAHABAD HIGH COURT

Maintenance charges - AO adding a sum received as maintenance charges to the income of assessee for the reason that the agreement entered into for providing the services was a collusive agreement with a view to divert the rental income because the maintenance charges are an integral part of the licence agreement - CIT(A) and ITAT deleted the addition - Held that:- The CIT(A) as well as the Income Tax Appellate Tribunal have recorded a concurrent finding of fact that both the Companies are separa .....

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:- 1-4-2016 - Dilip Gupta And Surya Prakash Kesarwani, JJ. For the Appellant : Manu Ghildyal ORDER This appeal has been filed against the judgment and order dated 9 October 2015 passed by the Income Tax Appellate Tribunal by which the appeal filed by the revenue was dismissed. The revenue have filed the appeal against the order dated 23 April 2012 passed by the Commissioner of Income Tax (Appeal), Meerut for the Assessment Year 2009-10. The assessee company is holding company of M/s. IHDP Home I .....

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2,74,672/- for the services rendered as per another agreement dated 25 August 2008. The tenant paid rent to the assessee company and maintenance charges to the subsidiary company. The assessing officer are completed the assessment of assessee by adding a sum of ₹ 2,72,74,672/- received as maintenance charges to the income of assessee for the reason that the agreement entered into for providing the services was a collusive agreement with a view to divert the rental income because the mainte .....

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of the assessee's property, are two separate entities and income-tax assessees. The learned first appellate authority after considering the balance sheets of both the companies arrived at a finding that the assessee company purchased the land and constructed the bare building at plot No.7 Sector 127, Taj Express Way, Noida and charged rent for the land and bare construction of building under an agreement entered into between the assessee company and the tenants. It is also born out on record .....

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n the assessment year 2010-11 and 2011-12 have been accepted by the Assessing Officer vide assessment order u/s. 143(3) dated 08.02.2013 and 06.01.2014 (Copy placed before us) and the nature of business of assessee's subsidiary company stands depicted from their assessment order dated 27.02.2015 u/s. 143(3) for A.Y. 2012-13 (Copy placed before us). The ld. CIT(A) has also considered the statement of Income and Income Tax Return filed by M/s. IHDP Home Interiors Exports Parks Pvt. Ltd. for th .....

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