https://www.taxtmi.com/caselaws?id=255404 The Tribunal partly allowed the appeal, remanding the first issue to the AO for verification. The disallowance of the cost of construction was set aside, with directions to verify tenant companies' balance sheets. Payments made to Excalibur India P. Ltd. and Texcon India Pvt. Ltd. were allowed, as they were deemed necessary for the property's sale. However, the disallowance of the deduction for clearing Concepts India Pvt. Ltd.'s dues was upheld due to lack of evidence. The Tribunal instructed the AO to allow the construction cost if not reflected in tenant companies' balance sheets and upheld the compensation payments, while dismissing the deduction for clearing dues. en-us Fri, 31 Jan 2014 00:00:00 +0530 Fri, 16 Jan 2015 08:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255404 The Tribunal partly allowed the appeal, remanding the first issue to the AO for verification. The disallowance of the cost of construction was set aside, with directions to verify tenant companies' balance sheets. Payments made to Excalibur India P. Ltd. and Texcon India Pvt. Ltd. were allowed, as they were deemed necessary for the property's sale. However, the disallowance of the deduction for clearing Concepts India Pvt. Ltd.'s dues was upheld due to lack of evidence. The Tribunal instructed the AO to allow the construction cost if not reflected in tenant companies' balance sheets and upheld the compensation payments, while dismissing the deduction for clearing dues. Case-Laws Income Tax Fri, 31 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255404