Case Law Details
Confederation of Real Estate Vs CIT (ITAT Bangalore)
In the present case, the assessee is an association of persons. They filed its income tax return. During the assessment proceedings, the assessing officer noted that the assessee has conducted exhibitions of “real estate projects” in Bangalore and Dubai and earned an income which is declared in the return. The AO noticed that the assessee has claimed expenses not relating to exhibitions also, against the above said net income received on conducting exhibitions. Based on this, the AO held that the other expenditure is not entitled to adjust against exhibition income.
ITAT states that the order passed by CIT(A) is not clear in as much way the ld. CIT(A) has given a general direction without having regard to the factual aspects of ‘receipts and expenditure’ relating to exhibitions presented before ITAT. A clear cut direction from ld. CIT(A) in this regard would be helpful to both the assessee and the AO. Hence, ITAT are of the view that this issue is required to be restored to the file of the ld. CIT(A) for adjudicating it afresh after affording adequate opportunity of being heard to the assessee. ITAT therefore, set aside the order passed by the ld. CIT(A) on this issue and restore the same to the file of ld. CIT(A) for adjudicating it afresh.
FULL TEXT OF THE ITAT JUDGEMENT
The assessee has filed this appeal challenging the order dated 02-09-2016 passed by ld.CIT(A)-1, Bangalore and it relates to assessment year 2012-13.
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