TaxTMI 
TaxTMI 
TaxTMI 
2021 (8) TMI 874
X X X X Extracts X X X X
X X X X Extracts X X X X
....Y : SRI KSHITIJ KHOSLA & SRI MANISH MALIK, ADV. REVENUE BY : SHRI UMESH KATIYAR, SR. DR ORDER PER MAHAVIR PRASAD, JUDICIAL MEMBER : These two cross appeals have been preferred by the assessee and the revenue and in revenue appeal following grounds have been taken :- "1. On the facts and circumstances of the case and in law the order passed by the Ld. CIT(A) erred in deleting the addition o....
X X X X Extracts X X X X
X X X X Extracts X X X X
....f of the clients: obtains best quotation: and advises the clients of various products of Life and Non-Life products. 4. In the current assessment year, assessee company had earned gross brokerage income of Rs. 5,58,09,177/- against which the company had claimed Supervisory and Risk Management charges of Rs. 4,33,06,842/- and same were paid to its sister concern M/s. M.M.Carpet and Industries Ltd.....
X X X X Extracts X X X X
X X X X Extracts X X X X
....bmit the details in remand proceeding. So, Ld. CIT(A) holding the issue will be decided in the appeal of sister concern and held that in instant case the main question was that expenditure should be capitalized or not and from the fact discussed, it is clear that expenditure is not required to be capitalized and held that finding of AO that the expenditure should be capitalized cannot be accepted ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....of the case the Learned CIT(A) has erred in confirming the finding of the Learned Assessing Officer for treating the amount of Rs. 60,50,000/- received on termination of lease agreement under the head income from other sources instead of income from house property." 8. Assessee company had claimed standard deduction of Rs. 23,32,500/- u/s 24A at the rate of 30% on Rs. 77,75,000/- as per computat....