LODHA DEVELOPERS LTD.(SUCCESSOR TO PALAVA DWELLERS PVT. LTD.),MUMBAI vs. DCIT, CC- 7(3), MUMBAI

ITA 1539/MUM/2019Status: DisposedITAT Mumbai30 August 2022AY 2015-1626 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that software expenditure is revenue in nature and allowed the full deduction. For the Section 80GGB deduction, the matter was remanded to the AO to verify the donation based on bank statements.

What were the facts?

The assessee, Lodha Developers Ltd., appealed against the disallowance of software expenditure and a partial disallowance of deduction under Section 80GGB. The revenue also appealed against the deletion of disallowance of interest expenditure and other claims.

What were the issues?

Whether software expenditure is capital or revenue, and the allowability of deduction for donations to political parties where receipts are not available but bank statements show the transaction.

Which sections of the Income-tax Act were involved?

Section 36(1)(iii),Section 80GGB,Section 14A,Section 80IB(10)

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Income Tax Appellate Tribunal, “C” BENCH, MUMBAI

Before: SHRI AMIT SHUKLA, JM & SHRI PRASHANT MAHARISHI, AM

For Appellant: Mr. Niraj Seth, AR
For Respondent: Mr. Praveen Shekhar, DR
Hearing: 03.08.2022Pronounced: 30.08.2022

PER PRASHANT MAHARISHI, AM:

01.

ITA number 1594/M/2019 filed by the Deputy Commissioner of income tax Co Circle – 7 (3), Mumbai (the learned AO) and ITA number 1539/M/2019 filed by assessee are the cross appeals against appellate order passed by the Commissioner of income tax (appeals) – ITA no. 1539 & 1594/Mum/2019 Lodha Developers Ltd; A.Y. 15–16 49, Mumbai dated 19/12/2018 for assessment year 2015 – 16. 02. In Assessee’s appeal in ITA no. 1539/mum/2019 following grounds are raised :-

“1. On the facts and circu

The order continues below.

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