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2018 (3) TMI 223 - DELHI HIGH COURTAmortization advance rent against the cost of land - Revenue v/s capital - Held that:- The decision is squarely covered against the assessee in the case of Gas Authority of India Limited vs. Joint Commissioner of Income Tax, [2012 (11) TMI 325 - DELHI HIGH COURT] 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, sell or encumber the lease benefits to any other party, the same stipulation enables transfer with "previous consent in writing of the Chief Executive Officer". - Decided against assessee. Expenses claimed on completed projects - Held that:- In the assessee’s case for another assessment year (Commissioner of Income Tax vs. M/s Ansal Properties and Industries Ltd [2012 (10) TMI 181 - DELHI HIGH COURT] 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. - Decided against revenue. Unaccounted refundable security deposit and unaccounted refundable maintenance security 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 flat owners
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