2018 (12) TMI 809

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...., Sr. DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER, This appeal by the assessee is preferred against the order of the Commissioner of Income Tax [Appeals] - I, Noida dated 29.01.2015 pertaining to A.Y 2009-10. 2. The assessee has raised five substantive grounds of appeal. At the very outset, the ld. AR stated that he is not pressing Ground No. 1,3,4, and 5. These grounds are dismissed....

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....f the said amount. The reply reads as under: "The company had run their business on the rented property bearing no. C-69, Sec-58, Noida-201307, U.P, India since their incorporation. Such rented property is owned by regency creation Ltd. The assessee company gave the advance rent for the two months at the rate of Rs. 4,27,100/- per month which comes to Rs. 8,54,200/-. During the y....

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.... the rental agreement, it was a advance rent which was adjusted against the rental expenses. As the company could not utilize the premises due to the fire and the- assessee company want to recover this amount as a refund of advance rent. For this purpose, Assessee Company sent reminders, letters for recovery of such money to the owner i.e. regency creations, ltd. since the assessee company could n....

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....the said premises, he requested the landlord for refund of the security deposit. The request was declined and, therefore, the assessee was left with no choice but to write off the said security deposit and the same should be allowed as legitimate business expenditure u/s 37/28 of the Act. 8. Per contra, the ld. DR supported the findings of the AO. 9. We have given careful consideration to th....