Regularization fees for violation in construction form part of Construction & Depreciation allowable
Case Law Details
Case Name : Dr. K. Senthilnathan Vs Assistant Commissioner of Income-tax, Circle XIV, Chennai (ITAT Chennai)
Related Assessment Year : 2004-05 to 2006-07
Courts :
All ITAT ITAT Chennai
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ITAT CHENNAI, (THIRD MEMBER)
Dr. K. Senthilnathan
v.
Assistant Commissioner of Income-tax, Circle XIV, Chennai
IT Appeal NOS. 493 TO 495 (MDS.) of 2010
[Assessment years 2004-05 to 2006-07]
FEBRUARY 15, 2012
ORDER
Dr. O.K. Narayanan, Vice-President (As a Third Member) – There are three appeals. These appeals relate to the assessment years 2004-05, 2005-06 and 2006-07. The appeals are filed by Dr. K. Senthilnathan, the assessee. They are directed against the orders of the Commissioner of Income-tax (Appeals)-XII at Chennai, all dated 28-1-2010.
2. The assessee had constru...
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Dear sir,
Our client had paid regularisation fee before he started his contract of Building. The construction made by him is not in violation of any laws. But , the Assessing officer has disallowed regularisation fee paid by my client taking into account the case of Millenium Developers P ltd.(322 ITR 401). But the regularisation fee paid by our client is not at all in the nature of penalty.
Please suggest me whether the regularisation fee not in the nature of penalty can be allowed as a deduction under Income Tax Act, 1961.
Dear sir,
Our client had paid regularisation fee before he started his contract of Building. The construction made by him is not in violation of any laws. But , the Assessing officer has disallowed regularisation fee paid by my client taking into account the case of Millenium Developers P ltd.(322 ITR 401). But the regularisation fee paid by our client is not at all in the nature of penalty.
Please suggest me whether the regularisation fee not in the nature of penalty can be allowed as a deduction under Income Tax Act, 1961.
If yes, suggest any case law, if available.