2021 (12) TMI 401

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.... ORDER PER SUCHITRA KAMBLE , JM This appeal is filed against the order dated 27.7.2018 passed by the CIT (A)-10, New Delhi by the revenue for Assessment Year 2015-16. 2. The grounds of appeal are as under :- "1. "On the facts and circumstances of the case, the Ld. CIT(A) has erred in law on facts in not appreciating the findings of the AO during the course of the assessment proceeding. 2. ....

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....M/s Wadhwa Group Housing Pvt. Ltd. on 09/05/2014. Before purchase, the said property was rented out by Wadhwa Group Housing Pvt. Ltd to Roche Products (India) P. Ltd. vide leave and license agreement dated 06/01/2014. The property continued to be let out to Roche Products (India) P. Ltd even after it was purchased by the assessee. The assessee signed Deed of Adherence with M/s Wadhwa Group Housing....

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....e Court in the case of Sultan Brothers P. Ltd. v CIT (1964) 51 ITR 353 (SC). The AO inter alia referred to clause (i) of para 5.2.1 of Leave and License agreement dated 06/01/2014 in respect of common area maintenance charges and clause (ii) of para 5.2.1 in respect of electricity charges and other utilities. The AO disallowed the claim of deduction of Rs. 2,44,02,060/- claimed u/s 24 and interest....

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....s and perused all the relevant materials available on record. The CIT(A) has given a categorical finding that the assessee purchased bare office space in bare shell condition and as per the Leave and Licence Agreement/Deed of Adherence all the fit out works including furniture, fittings and fixture etc. were required to be executed by the licensee and there was no rent element in respect of furnit....