9911796707
TMI Blog2021 (12) TMI 401X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER PER SUCHITRA KAMBLE , JM This appeal is filed against the order dated 27.7.2018 passed by the CIT (A)-10, New Delhi by the revenue for Assessment Year 2015-16. 2. The grounds of appeal are as under :- "1. "On the facts and circumstances of the case, the Ld. CIT(A) has erred in law on facts in not appreciating the findings of the AO during the course of the assessment proceeding. 2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s Wadhwa Group Housing Pvt. Ltd. on 09/05/2014. Before purchase, the said property was rented out by Wadhwa Group Housing Pvt. Ltd to Roche Products (India) P. Ltd. vide leave and license agreement dated 06/01/2014. The property continued to be let out to Roche Products (India) P. Ltd even after it was purchased by the assessee. The assessee signed Deed of Adherence with M/s Wadhwa Group Housin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me Court in the case of Sultan Brothers P. Ltd. v CIT (1964) 51 ITR 353 (SC). The AO inter alia referred to clause (i) of para 5.2.1 of Leave and License agreement dated 06/01/2014 in respect of common area maintenance charges and clause (ii) of para 5.2.1 in respect of electricity charges and other utilities. The AO disallowed the claim of deduction of Rs. 2,44,02,060/- claimed u/s 24 and interes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es and perused all the relevant materials available on record. The CIT(A) has given a categorical finding that the assessee purchased bare office space in bare shell condition and as per the Leave and Licence Agreement/Deed of Adherence all the fit out works including furniture, fittings and fixture etc. were required to be executed by the licensee and there was no rent element in respect of furni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Leave and Licence Agreement and no contrary evidence was put up before us or before any revenue authorities by the assesee. Therefore, there is no need to interfere with the order of the CIT(A). Hence cross objection of the assesse is dismissed. 9. In the result, both the appeal of the revenue as well as cross objection of the assessee are dismissed. Order pronounced in the open court in prese ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
