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Ground raised by the assessee is that the learned CIT(A) erred in law and on facts in confirming the addition of lease rent of Rs. 2,36,67,539 on a notional basis even though the appellant has not received the above amount.

Shanti Prime Publication Pvt. Ltd.

Sec. 4 of Income Tax Act, 1961 - Income - Whatever be the scope of work of M/s Avendus Capital (P) Ltd., the nature of expenses remains same. Even if the fresh share capital is to meet working capital needs, then also, the nature of expenses remains same and hence the entire amount of such expenses is to be considered as capital expenditure as has been held by Hon'ble apex Court. Appeals of the assessee allowed. - VBHC VALUE HOMES (P) LTD. V/s ITO - [2020] 206 TTJ 595 (ITAT-BANGALORE)