TMI Blog2017 (9) TMI 1920X X X X Extracts X X X X X X X X Extracts X X X X ..... i Ramesh at his own cost and such expenses is not required to be borne by the assessee company. We are of the considered opinion that the order of CIT(A) is not sustainable because these paras of JDA were not considered by CIT(A) at all. Regarding various judgments cited by ld. AR of assessee, we would like to observe that in view of this fact that the assessee had not been able to establish that the payment in question was on account of business exigency and it was required to be borne by the assessee company and not by Shri Ramesh, none of the judgments cited by ld. AR of assessee is relevant in the present case of the assessee. We therefore reverse the order of CIT(A) and restore that of AO - Appeal filed by the revenue is allowed. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed. 5. The appellant craves leave to add, alter, amend and/or delete any of the grounds that may be urged. 3. The ld. DR of revenue supported the assessment order. He also submitted that as per the JDA copy submitted by him, in Para no. 33 and 34, it is clearly specified that all the expenditure incurred to make the schedule land usable for development shall be borne by the owner or such amount shall be debited to his account. He also submitted that as per the assessment order, Shri Ramesh to whom the amount in question was paid decided to transfer three flats of his share to the assessee company for ₹ 1,40,11,200/- and it was from this money paid to Shri Ramesh, the amount in question of ₹ 65 lakhs was transferred to e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat this expenditure of ₹ 65 lakhs is because of business exigency because whatever may be the dispute betweenShri Ramesh and his sister, it was to be settled by Shri Ramesh at his own cost and such expenses is not required to be borne by the assessee company. 6. In this view of the matter, we are of the considered opinion that the order of CIT(A) is not sustainable because these paras of JDA were not considered by CIT(A) at all. Regarding various judgments cited by ld. AR of assessee, we would like to observe that in view of this fact that the assessee had not been able to establish that the payment in question was on account of business exigency and it was required to be borne by the assessee company and not by Shri Ramesh, none ..... X X X X Extracts X X X X X X X X Extracts X X X X
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