2021 (10) TMI 1262

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....to the Assessment Year 2014-15 raising the following Substantial questions of Law: (1) Whether on the facts and in the circumstances of the case, the Tribunal is right in law in allowing relief to assessee on the basis of fresh materials brought on record before Tribunal without affording opportunity to assessing authority to file remand report nor considering request of Revenue to remand the matter for verification of fresh evidences brought on record by assessee before Tribunal? (2) Whether on the facts and in the circumstances of the case and in law, is perverse in nature as Tribunal has set aside the disallowances made by assessing authority by relying on fresh materials brought on record by assessee for first time before Tribunal w....

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....mand the matter to the Assessing Authority since, no documentary evidence was placed either before the Assessing Officer or before the CIT(A) regarding the reimbursement of expenses, the details of which was placed before the Tribunal for the first time. Without getting the remand report from the Assessing Officer, the Tribunal proceeded to decide the issue which is wholly unjustifiable. Thus, learned counsel seeks to answer the substantial questions of law in favour of the Revenue. 5. Learned counsel for the assessee submitted that the assessee being engaged in the business of Mall Management, reimbursement received from the tenants indeed was credited to the related expenses incurred and the same was made available before the Assessing O....

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....pages relied by Ld.AR, it appears that, said amount was considered while computing expenses under the head, 'Marketing Cost' before debiting it to P&L account. Ld.CIT(A) in para 5.3 of his order, notes that, clarification was provided by assessee in rectification petition under 154 of the Act before Ld.AO, regarding entries in P&L account." "12.1. Ld. AR. Submitted that, reimbursement is credited to related expenses incurred, and net expenses are considered in statement of P&L account as expenditure. The Ld.AR submitted that, sum of Rs. 14,12,12,74/- was incurred towards HVAC/power charges, against which, assessee received sum of Rs. 4,21,83,036/-, as reimbursement from tenants. Referring to page 48, Ld.AR submitted that, under the head, ....