ARUN KUMAR GOELA, NEW DELHI V. ITO, WARD- 46(1), NEW DELHI

ITA 6864/DEL/2018

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 4865 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 10 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-09-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2015-2016
• Appeal Filed On: 30-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: ARUN KUMAR GOELA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH A, NEW DELHI BEFORE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER DR. B. R. R. KUMAR, ACCOUNTANT MEMBER ITA NO. 6864/DEL/2018 : ASSTT. YEAR : 2015-16 ARUN KUMAR GOELA, CHACHAN & LATH LLP, 1308-09, BEST SKY TOWER, F5, NETAJI SUBHASH PLACE, PITAMPUR, NEW DELHI-110034 VS INCOME TAX OFFICER, WARD-46(1), NEW DELHI (APPELLANT) (RESPONDENT) PAN NO. A A GPG5234Q ASSESSEE BY : SH. ARUN KUMAR GOELA, ASSESSEE REVENUE BY : SH. VIRENDRA SINGH, SR. DR DATE OF HEAR ING: 27 . 09 .20 21 DATE OF PRONOUNCEMENT: 29 .0 9 .20 21 ORDER PER DR. B.R.R. KUMAR, ACCOUNTANT MEMBER: THE PRESENT APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A)-16, NEW DELHI DATED 12. 07.2018. 2. THE SMALL ISSUE INVOLVED IN THIS CASE IS THAT TH E TOTAL SALE CONSIDERATION FOR ONE FLOOR OF THE BUILDING WAS RS. 2,12,50,000/. THE COST OF CONSTRUCTION WAS RS. 1,13,37,500/- AND THE INDEXED COST OF THE BUILDING WAS RS.55,11,885/-. THE AMOUNT PAID FOR VACATING THE OCCUPANTS AND THE RENT PAID FOR RELOCA TION THEREOF HAS TO BE INCLUDED IN THE EXPENSES OF CONSTRUCTION WHICH THE AO HAS DENIED TO ALLOW. SINCE, THE RELOCATION EXPENSES OF THE EXISTING OCCUPANTS IS ALSO AN ALLOWABLE COMPONENT O F COST OF CONSTRUCTION, THE PECULIAR FACTS OF THE INSTANT CAS E AND THE ITA NO. 6864/DEL/2018 ARUN KUMAR GOELA 2 AGREEMENT ENTERED WITH THE DEVELOPER, THE APPEAL OF THE ASSESSEE DESERVES TO BE ALLOWED. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED IN THE OPEN COURT ON 29/09/2021. SD/- SD/- (SUCHITRA KAMBLE) (DR. B. R. R. KUMAR) JUDICIAL MEMBER ACC OUNTANT MEMBER DATED: 29/09/2021 *SUBODH* COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR