2020 (4) TMI 98

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....nue by: Shri Akhtar Husain Ansari O R D E R PER SAKTIJIT DEY. J.M. The aforesaid appeal by the assessee is against the final assessment order dated 29th January 2015, passed under section 143(3) r/w section 144C(13) of the Income Tax Act, 1961 (for short "the Act") in pursuance to the directions of the Dispute Resolution Panel-IV (DRP), Mumbai, for the assessment year 2010-11.   2....

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....hus, the only surviving ground which arises for consideration is ground no.1, relating to disallowance of Rs. 19,37,936, under section 43B of the Act. 6. Brief facts are, in the course of assessment proceedings the Assessing Officer while verifying the Profit & Loss account noticed that the assessee has debited an amount of Rs. 19,37,936, under the head "General and Administrative Expenses". Af....

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....he assessee raised objections before learned DRP. However, the the addition mad by the Assessing Officer was upheld. 7. The learned Counsel for the assessee submitted, as per the terms of the lease agreement, in addition to the lease rental the assessee also has to reimburse the Municipal Tax paid by the landlord to the Municipal Authority. He submitted, the amount reimbursed by the assessee to....

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.... to be paid by the landlord / licensor on the property taken on lease by the assessee. On a perusal of the lease and license agreement, a copy of which has been submitted before us, it is seen that as per Para-6.2, the burden of paying the property tax is on the licensor. However, as per the mutual agreement between the parties, the licensee agreed to reimburse the property tax to the licensor sav....