Case Law Details
Empire Infraspace India Pvt. Ltd. Vs ACIT (ITAT Mumbai)
Actually, the premises in question was on rent earlier with the HDFC Bank. Under the compelled circumstances, the tenant HDFC Bank vacated the premises because the Metro Rail Project came before the premises, therefore, the said premise was vacated by Bank. On similar circumstances, the Hon’ble ITAT has already explained the reason in which the rental value of the premises was not liable to be assessed on the percentage basis of the value of the property. Accordingly, it is quite clear that the case of the assessee has duly been covered by the Hon’ble ITAT in the assesse’s own case (supra), therefore, we set aside the finding of the CIT(A) on these issues and allowed the claim of the assessee. All the issues are decided in favour of the assessee against the revenue.
FULL TEXT OF THE ITAT JUDGEMENT
The assessee has filed the present appeal against the order dated 31.07.2019 passed by the Commissioner of Income Tax (Appeals) -4, Mumbai [hereinafter referred to as the “CIT(A)”] relevant to the A.Y.2016-16.
2. The assessee has raised the following grounds: –
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