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Applicability of Sec 269SS of I.T Act.
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....pplicability of Sec 269SS of I.T Act.<br> Query (Issue) Started By: - MOHAMED YACOOB SHARIFF Dated:- 25-2-2013 Last Reply Date:- 21-3-2015 Income Tax<br>Got 1 Reply<br>Income Tax<br>Sir, one my clien....
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....t has entered into the lease agreement for his property where in the lessee has paid Rs.500000/ in cash to the Landlord (assessee) and taken the possession of the property, with the condition that the....
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.... NO rent will be paid and Rs. lease amount of Rs.500000/- will be refunded after 3 years, without any interest on the same. Now the assessing officer says 1) Assessee should have received the lease a....
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....dvance by Chq only and not by cash, hence, the provisions of 269 will apply . 2) And Assessee has to officer the fair rent from such such property Pl clarify if he is correct, when there is an agree....
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....ment. Pl clarify with the case laws in favour of assesee. Reply By Rama Krishana: The Reply: The AO may be right as long as you say that amount of ₹ 5,00,000/- is refundable after 3 years or ....
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....on expiry of lease, as the case may be. It is your stand which will be the base of the final order. What is the nature of amount is question of facts and examination. If you have got any view, pleas....
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....e share with me.<br> Discussion Forum - Knowledge Sharing ....