No necessity to show expenses separately in the profit & loss account, when the expense is netted off against the relevant income

Last updated: 13 October 2020

Court :
ITAT Bangalore

Brief :
The assessee has filed this appeal challenging the order dated 1.3.2018 passed by Ld. CIT(A), Bengaluru and it relates to assessment year 2014-15.

Citation :
ITA No.1689/Bang/2018

IN THE INCOME TAX APPELLATE TRIBUNAL
“C’’BENCH: BANGALORE
BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENTAND
SHRI B.R. BASKARAN, ACCOUTANT MEMBER

ITA No.1689/Bang/2018
Assessment Year: 2014-15

Prestige Amusements Private Ltd. The Falcon House No.1, Main Guard Cross Road Bangalore-560 001 PAN NO :AABCP6614R
APPELLANT

Vs.

Asst. Commissioner of Income Tax Circle-5(1)(2)Bangalore
RESPONDENT

Appellant by : Shri B.R. Sudheendra, A.R.
Respondent by : Smt. R. Premi, D.R.

Date of Hearing : 08.10.2020
Date of Pronouncement : 09.10.2020

O R D E R

PER B.R. BASKARAN, ACCOUNTANT MEMBER:

The assessee has filed this appeal challenging the order dated 1.3.2018 passed by Ld. CIT(A), Bengaluru and it relates to assessment year 2014-15.

2. The assessee is aggrieved by the decision of Ld. CIT(A) in confirming the addition of Rs.1,43,13,879/- relating to Mall shopping festival expenses and Rs.27,09,868/- relating to parking amount due to land lord.