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AO Cannot Blow Hot & Cold—TDR Allowed; Penalty Deleted; Interest Disallowance Gone
Case Law Details
- Case Name
- Essae Suhagraja Private Limited Vs DCIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Bangalore
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Essae Suhagraja Private Limited Vs DCIT (ITAT Bangalore)
AO Cannot Blow Hot & Cold—TDR Allowed; Penalty Deleted; Interest Disallowance Gone-
Contradictory Stand by AO on TDR Cost—ITAT Directs Allowance; Penalty u/s 270A Deleted; Interest Disallowance u/s 36(1)(iii) Also Reversed
AY 2018-19 – TDR Cost of ₹5.45 Cr
Assessee claimed cost of Transferable Development Rights (TDR) as business expenditure.
AO disallowed it in reassessment holding:
No sale of flats in FY 2017-18 → TDR must be capitalised into WIP
Deduction allowable only when flats are sold
However, in AY 2020-21 asses...
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