TaxTMI 
TaxTMI 
2020 (2) TMI 1351
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....y considering the same. Learned DR of the revenue supported the order of CIT (A). 3. We have considered the rival submissions. We find that Ground No. 1 and 2 raised by the assessee are general and no separate adjudication is called for about these two grounds. As per Ground No. 3, the grievance of the assessee is about confirming of the disallowance of Rs. 775,310/- made by the AO. In this regard, in para (C) of the Synopsys, it is submitted that the assessee has incurred an expense of Rs. 77,53,110/- as wages in respect of a turnover of more than Rs. 15 Crores and the AO made an adhoc disallowance of Rs. 15 Lacs and learned CIT (A) confirmed part disallowance to the extent of 10% of wages worked out at Rs. 775,310/-. It is submitted th....
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.... general terms in the remand report that bills/vouchers were not produced in full for verification and still, he partly confirmed the disallowance to the extent of Rs. 1 Lac out of Rs. 5 Lacs disallowed by the AO. In view of these findings of CIT (A) as noted above, we are of the considered opinion that in the facts of the present case, no disallowance is justified and hence, we delete this disallowance of Rs. 1 Lac. Ground No. 4 is allowed. 5. As per Ground No. 5, the grievance of the assessee is about confirming of the disallowance of Rs. 138,17,096/- made by the AO towards cost of super structure. In this regard, in para (A) of the Synopsys, it is submitted that the super structure of 43,900 Square Feet is constructed on Lease hold la....
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....In the present case, out of total area of Square Feet, only 14,300 Square Feet is used for business and major portion of 29,600 Square Feet square feet is let out. Hence, in the present case, a small portion of a let-out house property is used for business whereas in that case, entire building was used for business. The claim of the assessee of Rs. 138,17,096/- is worked out on proportionate basis being multiplication of 14,300 Square Feet to Rs. 968.00 being average cost of one square Feet. In the present case, even this portion used for business in the present year can be let out at any point of time because major portion is already let out. For a building constructed for letting out, there is no provision in the act to allow the cost of ....
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....n this issue. Accordingly, Ground No. 6 is also rejected. 7. As per Ground No. 7, the grievance of the assessee is about confirming of the disallowance of Rs. 10,21,444/- made by the AO towards the assessee's claim for amortization of the cost of the letout property. In this regard, in para (B) of the Synopsys, it is submitted reliance is placed on the tribunal order rendered in the case of Shankarnaryana Industries and Plantations Pvt. Ltd. In ITA No. 860/Bang/1995 dated 22.08.1997. Copy of this tribunal order is also submitted. In this tribunal order, the tribunal has noted about another tribunal order which is against the assessee but the tribunal followed that tribunal order which is in favour of the assessee but it is not clear as t....