2026 (4) TMI 640

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....r Section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') vide his order dated 8th March, 2013. 2. The first issue in this appeal of the assessee is as regards the order of learned CIT(A) in confirming the action of the Assessing Officer in making disallowance of Rs. 36 lakhs claimed by the assessee under Section 24(a) of the Act. For this, the assessee has raised following ground No.1(a) and 1(b) :- "1(a) On the facts and circumstances of the case, the Ld.CIT(NFAC), Delhi has erred in sustaining the disallowance of Rs. 36,00,000/- claimed by the assessee under Section 24(a) of the Income Tax Act, as made by the A.O. on erroneous and irrelevant considerations. The order of the Ld.CIT(A) is illeg....

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....of the said property and claimed the same as business expenditure. Learned CIT(A) also confirmed the action of the Assessing Officer. Aggrieved, the assessee is in appeal before the Tribunal. 4. We noted that the assessee in its profit & loss account claimed expenses on repairs and maintenance of the above said property but these repairs and maintenance expenses were added back to the income of the assessee amounting to Rs. 1,40,336/- which pertained to the property located at 701/705, Dalamal House, Nariman Point, Mumbai. Learned Counsel for the assessee stated that the assessee is consistently declaring the rental income from this property under the head 'income from house property' since assessment year 1998-99 and the same ha....

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....t. We direct the Assessing Officer to allow the claim of the assessee. In terms of the above, ground No.1(a) and 1(b) are allowed. 5. The second issue in this appeal is as regards the order of learned CIT(A) in confirming the action of the Assessing Officer in disallowing depreciation amounting to Rs. 24,69,723/- claimed on the temporary structure. For this, the assessee has raised the following ground No.2 :- "That the Ld.(NFAC) has further gone wrong in sustaining the disallowance of the depreciation amounting to Rs. 24,69,723/- claimed on the temporary structure. Ld. CIT(NFAC) has failed to consider the material and evidence filed in support of the assessee's claim, all submissions and law cited in this regard have been i....