2017 (9) TMI 158

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....R) for the respondent ORDER Per: Ramesh Nair The fact of the case is that the appellants entered into a contract with M/s. Fleetguard Filters Pvt. Ltd. on 10.09.2007 for renting of commercial premises admeasuring an area 25280 sq.mtr. in Gat no. 279/01/03, Village Hinjawadi, Taluka Mulshi on rent amount of Rs. 8 per sq.ft. totalling of Rs. 2,02,240/- per month. It was noticed that the app....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....amely Pandurang Hulawale, Sambhaji Hulawale and Jaymala Sambhaji Hulawale. Therefore, entire rent amount cannot be clubbed and treated as income of one person i.e. the appellant. If the rent received by individual person is taken, it will be much below the threshold limit of Rs. 8 lakhs in the financial year. Therefore in case of appellants the rent amount is well within the exemption limit hence ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....act remains that the rent agreement has been entered between the three persons, namely Pandurang Hulawale, Sambhaji Hulawale and Jaymala Sambhaji Hulawale. As per the payment terms, all the three persons were paid different amount of rent to individual after deduction of TDS. Therefore irrespective of ownership of the property, the important aspect is that who are the parties in the agreement and ....