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TMI Blog2024 (10) TMI 1194X X X X Extracts X X X X X X X X Extracts X X X X ..... ation Trust by unrelated party come to Rs. 176.47/- per sq. ft. per month and the rent paid by the assessee for the same premises is Rs.147.06/- per sq. ft. per month. While completing the assessment for AY 2018-19, the AO has referred to an agreement but the same was for a different premise in the same locality and not the premise for which the assessee has paid rent. Therefore, the AO proceeded on appreciation of wrong facts. Thus, we do not find the impugned payments to be excessive or unreasonable - Decided in favour of assessee. - SHRI NARENDRA KUMAR BILLAIYA, HON BLE ACCOUNTANT MEMBER SHRI SANDEEP SINGH KARHAIL, HON BLE JUDICIAL MEMBER For the Appellant : Shri Arati Vissanji, A/R For the Respondent : Revenue by : Smt. Mahita Nair, S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1,00,000/- and fees of Rs. 60,88,400/- for modular courses to specified persons covered u/s 13(3) of the Act. The assessee was asked to showcause, why the total rent paid of Rs.51,00,000/- and fees of Rs. 60,88,400/- for modular courses to specified persons covered u/s 13(3) of the Act, should not be disallowed and added to the total income. 5.1. In its reply, the assessee explained that the payment of rent is made for premises owned by the Trust at village Kalote, NH-04, Old Mumbai-Pune Highway, Taluka, Khalapur, Dist: Raigad, Maharashtra 410202 and to Tara Meera education trust for the office at New Excel house, 2nd Floor, 41-B, Azad Nagar Road no. 2, Off. Veera Desai Road, Andheri(W), Mumbai. It was further explained that the modular cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nable, having regard to the fair market value of the goods, service or facilities. After properly appreciating the facts and referring to certain judicial decisions, the ld. CIT(A) was convinced with the claim of exemption u/s 11 of the Act and accordingly allowed the same. 6. After giving a thoughtful consideration to the orders of the authorities below, let us see the comparables brought by the assessee which were completely ignored by the AO. MMTT s Education Research Trust Assessment Year: 2017-18 Comparative statement showing comparison of rent paid to Mount View Club Resort Pvt. Ltd. And to the Trustees of the assessee for use of building and other facilities. Rent paid to Sr. No. Particulars Mount View Club Resort Pvt. Ltd. Trustees ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dheri (W), Mumbai-400053. 3. Total Area of Office Premises (in Sq. Ft.) 1,700 - 4 Area let-out by Tara Meera Education Trust to the assessee (in Sq. ft.) - 850 5 Rent paid per month during the year under reference 3,00,000 1,25,000 6 Rent per month per Sq. ft. 176.47 147.06 MMTI s Education and Research Trust Assessment Year: 2017-18 Statement showing details of modular course fees paid for the year ended 31.03.2017 Sr. No. Name of the Course conducted at Khopoli Duration of the said course No. of candidates undergone modular course Rate per candidate Amount (Rs.) 1 GP Rating July 2015 to December 2015 39 26,600 10,37,400 2 GP Rating January 2016 to June 2016 39 26,600 10,37,400 3 GP Rating July 2016 to December 2016 39 26,600 10,37,400 4 G ..... X X X X Extracts X X X X X X X X Extracts X X X X
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