TMI Blog2018 (3) TMI 223X X X X Extracts X X X X X X X X Extracts X X X X ..... ] as held barring the right to alienate or outright sale of the property in unqualified manner, all rights of enjoyment in respect of leased properties are with the assessee. Furthermore, even though the stipulation in the deed – one of which (dated 25.07.1995 with MHIDC) was produced during the hearing by the assessee, clause 3(m) enjoins the lessee not to transfer either directly or indirectly, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urity deposit receivable by the assessee - Held that:- During the proceedings the assessee had relied on additional evidence. The ITAT directed the deletion of the sums brought to tax on these heads. The record reveals that the said amounts were in fact verified by the AO subsequently. The AO had verified that the amounts were to be allowed as the assessee was merely a facilitator on behalf of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome Tax Appellate Tribunal (ITAT) has erred in deleting the sum of ₹ 1,89,02,581/- which the Assessing Officer (AO) brought to tax claimed by the assessee as expenses incurred by it on completed projects. In the assessee s case for another assessment year (Commissioner of Income Tax vs. M/s Ansal Properties and Industries Ltd, 352 ITR 637), this Court had ruled, as follows:- 13. The A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se decisions held that the circumstances of this case showed that the (Appeal)'s Commissioner reasoning were sound and convincing and that in the absence of any specific deviation from the accounting methods and practices by the assessee, the conclusion arrived at by the AO was not warranted. 15. This Court also recollects the decision of this very Court. The same is also covered by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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