2020 (9) TMI 156

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....TITIONER : BY SRI. CHYTHANYA K.K., ADV FOR THE RESPONDENT : SRI. K.V. ARAVIND, ADV JUDGMENT This appeal under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act', for short) has been preferred by the assessee. The subject matter of the appeal pertains to Assessment years 1997-98 to 2000-01 and 2003-04. The appeal was admitted by a Bench of this Court on....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cts leading to filing of this appeal briefly stated are that the assessee is engaged in providing services to Holiday Resort Company, for which it receives service charges besides the other income, which was offered for taxation. The assessee entered into an agreement / contract with M/s Prestige Holiday Resorts Company Pvt. Ltd., which is in the business of property development and development of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f the unit of accommodation and Prestige Holiday Resorts Company Ltd agreed to park with the assessee, the funds, which were to be kept in deposit by way of capital bond and interest accrued on capital bond was to be paid by assessee to Prestige Holiday Resorts Company Ltd. The assessee made deposits out of the funds given to it by Prestige Holiday Resorts Company Ltd and in return of income it ha....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... was liable to be allowed as deduction. In the result, the order passed by the assessing authority was upheld. The assessee thereupon filed appeal before Income Tax Appellate Tribunal (hereinafter referred to as 'the Tribunal', for short). The tribunal vide order dated 30.03.2012 upheld the orders of the Commissioner of Income Tax (Appeals). Being aggrieved, the assessee is in appeal befor....