2019 (2) TMI 527

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....ocate For The Respondent : Sri Jeevan J. Neeralgi, Advocate JUDGMENT The appellant is an individual, who is into the business of real estate, property dealings, etc. He filed the return of income for the Assessment Year 2003-04 and declared the total income of Rs. 4,15,203/-. The return being selected for scrutiny, the Assessing Officer completed the assessment under Section 143(3) of the....

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.... ii.Whether the authorities below correct in law in imposing interest under Section 234 B and 234 D of the Act on the facts and circumstances of the case? 3. Mr. A. Shankar, the learned senior counsel appearing for the appellant's counsel, contends that the Assessing Officer misconstrued the income and came to the conclusion that the expenses as claimedby the assessee are relatable to the busin....

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....the view that the expenses are relatable to subleasing of the property. 5. On hearing learned counsels, we are of the view that the Assessing Officer has misconstrued the income. So far facts are concerned, the expenses claimed by the assessee are towards the heads stated hereinabove and are not relatable to the subleasing of the property as contended by the Assessing Officer. Therefore, we are....