2008 (9) TMI 1001 - HC - Income Tax

Summary

Issues involved: Calculation of enhanced rent, deduction allowed u/s ITAT order, arrears of tax calculation, satisfaction of appellant and respondent.

The High Court of Bombay heard the appeal regarding the payment of enhanced rent by the respondent to the Bombay Port Trust. The respondent, in an affidavit, stated that they would be satisfied with a deduction of &8377; 90,037.50 instead of the original enhanced rent amount of &8377; 19,06,844. The ITAT had upheld this deduction. The appellant agreed to calculate arrears of tax based on the reduced amount, and the respondent agreed to pay the amount upon demand. Consequently, the appeal was disposed of with no order as to costs.