TMI Blog2020 (12) TMI 544X X X X Extracts X X X X X X X X Extracts X X X X ..... #8377; 35, 85, 414/-is included in ₹ 45, 12, 061/-credited under the head Security Charges at page 5157 in Ledger account. In our view, this aspect needs verification vis-a-vis debit notes/invoices raised. We direct assessee to file relevant documents to establish its claim. Ld.CIT(A) is directed to verify the documents filed by assessee. In the event it is found that ₹ 35,85,414/- is included, as submitted by Ld.AR, the addition may be deleted. Accordingly this ground raised by assessee stands allowed for statistical purposes. Addition in respect of reimbursement of HVAC/Power charges received - AR submitted that, reimbursement is credited to related expenses incurred, and net expenses are considered in statement of P L account as expenditure - HELD THAT:- Said amount was considered while computing expenses under the head, Power Fuel before debiting it to P L account. We note that, authorities below failed to appreciate that Reimbursement of expenses marketing income been considered as net of expenses and therefore does not appear separately having credited under the head income. Ld.AR submitted that, assessee has considered respective income under releva ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,356 being reimbursement of H VA C/Power Charges received which was reduced from 'Power and Fuel Expenses' in the Statement of Profit or loss under Note No 21 - Direct Expenses. On facts and circumstances of the case and law applicable, the impugned addition of ₹ 4,71,90,356 should be deleted in entirety. TDS Credit 5. The learned AO has erred in not allowing TDS credit to the extent of ₹ 33,829[74,53,492 - 74,19,663] On facts and circumstances of the case and law applicable, TDS credit should be fully allowed as claimed in the return of income. Levy of Interest under section 234B and 234D 6. The learned CIT(A) has erred in confirming the levy of interest under section 234B and 234D of the IT Act, 1961. On facts and circumstances of the case and law applicable, interest under section 234B and 234D is not leviable. The appellant denies its liability to pay interest under section 234B and 234D. Prayer 7. In view of the above and other grounds to be adduced at the time of hearing, the appellant prays that the order passed by the learned Commissioner of Income Tax (Appeals) - 5, Bengaluru to the extent prejudicial be quashed or in the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he total income of assessee. 6. Aggrieved by additions made by Ld.AO, assessee preferred appeal before Ld.CIT(A). Ld.CIT(A) upheld observations of Ld.AO, without considering evidences filed. 7. Aggrieved by order of Ld.CIT(A), assessee is in appeal before us now. 8. Before us, Ld.AR submitted that, authorities below wrongly confirmed addition by holding that, the same were not been credited to profit and loss account. He submitted that, all grounds 2-4 relates to additions based on such assumption. 9. Ld.AR submitted that, mall provides certain facilities independently to tenants, based on area occupied by them. Ld.AR submitted that, assessee earns its income in the nature of common area maintenance charges from its tenants, management free from all mall owners for maintenance of mall and receives reimbursements/sponsorship in respect of certain expenses incurred being reimbursement of security charges, reimbursement of HV AC and DG charges from tenants, sponsorship and promotional income. He submitted that, based on actual usage, tenants reimburses cost, based on invoices/debit notes raised by assessee on them. He submitted that, such reimbursements/payments are not in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ved amounting to ₹ 35,85,414/-. Ld.AR submitted that, security charges received, was reduced under the head Operating cost , forming part of Direct expenses in Note 21 at page 32. The Ld.AR submitted that, breakup of Direct expenses is at page 48, wherein, sum of ₹ 83,417,076 is been shown as total Operating Cost. Ld.AR submitted that security charges amounting to ₹ 2,54,81,85/- is net of ₹ 35, 85, 414/-. Referring to page 154-157 of paper book, Ld.AR submitted that, security charges received from parties forms part of sum of ₹ 45,12,061/-, that is credited in Ledger, under the head security charges . 11.1 He thus submitted that, Security charges income has been considered under the head operating cost and net of expenses is debited to P L account under the head Direct expenses . 11.2 On the contrary, Ld.Sr.DR submitted that, all these clarifications were not filed before Ld.AO, and therefore issue may be remanded to Ld.AO for verification. He placed reliance on orders passed by authorities below. 11.3 We have perused submissions advanced by both sides in light of records placed before us. 11.4 Assessee has submitted that sum of & ..... X X X X Extracts X X X X X X X X Extracts X X X X
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