https://www.taxtmi.com/caselaws?id=247844 The ITAT dismissed the revenue's appeal against the deletion of excess rent by the CIT(A), upholding the decision that the rent increase was justified due to the increased leased area. The ITAT agreed that the rent was for business purposes and had been appropriately reflected and taxed by the holding company. Therefore, the deletion of the excess rent amount was upheld as the Assessing Officer's addition was deemed unjustified. en-us Fri, 09 May 2014 00:00:00 +0530 Sun, 25 May 2014 08:35:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247844 The ITAT dismissed the revenue's appeal against the deletion of excess rent by the CIT(A), upholding the decision that the rent increase was justified due to the increased leased area. The ITAT agreed that the rent was for business purposes and had been appropriately reflected and taxed by the holding company. Therefore, the deletion of the excess rent amount was upheld as the Assessing Officer's addition was deemed unjustified. Case-Laws Income Tax Fri, 09 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247844