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2016 (5) TMI 1271 - CALCUTTA HIGH COURT

2016 (5) TMI 1271 - CALCUTTA HIGH COURT - TMI - Allowability as revenue expenditure - payment made by the appellant to the landlord for his consent to the reconstruction of the building - whether was a revenue expenditure to be allowed as a deduction on proportionate basis over a period of 11 years? - Held that:- Revenue, did not dispute that the payment was made by the assessee in consideration of the landlord agreeing to signify his consent to the reconstruction of the building which had been .....

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Asha Arora, JJ. For the Petitioner : Mr. J.P. Khaitan, Sr. Adv., with Mr. S.Bhowmick, Adv. For the Respondent : Ms. S. Das De, Adv., appears with Mr. F. Ghaffar, Adv. ORDER The Court : The subject matter of challenge in this appeal is a judgment and order dated February 9, 2007, passed by the learned Income Tax Appellate Tribunal, E Bench, Kolkata, in ITA No.1753/Kol/2006, pertaining to the assessment year 2003-04, by which the appeal of the assessee was dismissed. The aggrieved assessee has com .....

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ry unreasonable and perverse?" The facts and circumstances of the case, briefly stated, are as follows. The assessee is a tenant of a Hindu undivided family, the Karta whereof was Sri Brijbansh Bahadur. In the tenanted premises, the assessee had been running a restaurant which is situated at Janpath, New Delhi. Due to a devastating fire, the tenanted premises was demolished. In order to restore the tenanted portion, in particular the mezzanine floor where the restaurant was being run, the a .....

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stage entered into a settlement. The sum and substance of such settlement was that upon payment of a sum of ₹ 67,50,000/- by the assessee, permission shall be granted to reconstruct the mezzanine floor. In other words, the landlord shall signify his consent to the sanction being granted by the Delhi Municipal Corporation. The sum of ₹ 67,50,000/-, payable by the assessee, would be paid to the said Instalment Supply Ltd. To that effect, a terms of settlement was entered into and file .....

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e Respondent No.1 receiving the said sum of ₹ 67,50,000/- in the manner aforesaid before this Hon'ble Court, the Respondent No.1 accords its irrevocable consent/no-objection to the said Structures in the said tenanted Premises and confirms that it would have no objection to the New Delhi Municipal Council (NDMC) releasing any plan(s) and/or granting necessary certificate(s) with respect to the said Structures sanctioned by the Administrator, NDMC, but which were not released in the abs .....

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quashing the said impugned order on the basis of the Settlement. The learned Tribunal misconstrued the terms of settlement. There was never any agreement for sale between the lessor and the lessee. The agreement for sale was between the lessor and the said Instalment Supply Ltd. The sum of ₹ 67,50,000/- was paid by the assessee to the said Instalment supply Ltd. on behalf of the Hindu Undivided Family, the Karta whereof was Sri Brijbansh Bahadur, in consideration of the said Hindu Undivid .....

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