Can the assessee claim deduction of the cost of land, which is now given as a parking space to shop owners?
Court :
ITAT Delhi
Brief :
This appeal is filed by M/s Crown international, assessee- Appellant for assessment year 2014 – 15 against the order passed by THE COMMISSIONER OF INCOME TAX (A) – 14, New Delhi [ The ld CIT (A) ] dated 14/01/2019 wherein the addition made by the learned The Assistant Commissioner of Income tax , Circle 41(1), New Delhi [ the ld AO] of ₹ 37,909,943/– is confirmed. Though assessee has raised a very argumentative and detailed grounds of appeal however the solitary issue remains is a disallowance of expenditure of ₹ 37,909,943/– made by the learned assessing officer and confirmed by the learned CIT – A.
Citation :
ITA. No. 2531/Del/2019
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