9911796707
TMI Blog2012 (12) TMI 751X X X X Extracts X X X X X X X X Extracts X X X X ..... ssing Officer. It is common practice now a days to do internal work like decoration, furnishings, etc. by the corporate tenants to improve the ambience of the building. The order passed by the CIT(A) is a well-reasoned and detailed order giving valid reasons for partly allowing the appeal of the assessee. - Revenue's appeal dismissed. - ITA Nos. 467 & 468/Mds/2010 - - - Dated:- 5-6-2012 - DR. O.K. NARAYANAN, AND SHRI VIKAS AWASTHY, JJ. Appellant by : Dr. Yogesh Kamath, IRS., JCIT Respondent by : Ms. Pushya Sitaraman Sr. counsel, for V.S. Jayakumar O R D E R PER VIKAS AWASTHY, JUDICIAL MEMBER: The present two appeals i.e. ITA Nos. 467/Mds/2010 468/Mds/2010 relevant to the assessment years 2006-07 2007-08 re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment orders preferred two separate appeals before the CIT(A)-I, Madurai. The CIT(A) after taking into consideration the facts of the case, documents on record and submissions made by the assessee partly allowed both the appeals of the assessee vide single order dated 28.01.2010. 4. Now, the Revenue has preferred these two appeals before the Tribunal impugning the order of the CIT(A) on the following grounds:- 1. Deleting the additions made by the Assessing Officer towards the income from house property. 2. Allowing the cost of construction to the extent of Rs. 7,39,850/- by holding that the internal decoration of the building was carried out by the tenant and further granting relief towards purchase of materials and self-supervis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) on the issue of rental income are :- Perusal of the TDS certificate issued by the ICICI Bank reveals that a sum of Rs. 89,392/- was paid towards rent by the bank and Rs. 9,118/- was deducted towards tax. The TDS certificate filed with the return was not accepted by the Assessing Officer but he gave credit to the tax deducted at source for the sum of Rs. 9,118/- in the tax working. The Assessing Officer failed to read the agreement between the appellant and the ICICI bank completely. It was stated in page 11 of the agreement that the rent will become payable by the lessee on site becoming operational and on lessor completing all obligations mentioned hereunder. The rent was paid in cheque/draft. The Assessing Officer did not bring in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ternal decorations to the building in question . The amount spent by the tenants was worked out at Rs. 7,39,850/-. This was not given credit by the Assessing Officer. It is common practice now a days to do internal work like decoration, furnishings, etc. by the corporate tenants to improve the ambience of the building. The Assessing Officer s order is silent on this issue in the orders passed u/s.143(3) as well as 154 of the Act. The Assessing Officer did not give any finding that the amount was not spent by the tenants. In the circumstances, this amount has to be allowed as deduction from the cost of construction because cost of construction was arrived at taking into consideration the whole building. We are of the considered opinion ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
