M/S Prestige Estates Projects Limited, Bangalore vs. Assistant Commissioner of Income Tax Circle-18(1), Bangalore
In the result, the appeal of the assessee is allowed
ITA 813/BANG/2019[2014-15]Status: DisposedITAT Bangalore02 Mar 2021AY 2014-15
Bench: Shri N.V.Vasudevan, Vp & Shri Chandra Poojari, Am
For Appellant: Sri.Padamchand Khincha, CAFor Respondent: Smt.R.Premi, JCIT-DR
Section 191Section 194Section 201Section 201(1)Section 206ASection 4
…ration’ to mean “A valuable consideration in the sense of the law may consist either in some right, interest, forbearance, detriment, loss or responsibility, given, suffered or undertaken by the other.” The Supreme Court in Chidambara Iyer v Renga Iyer (1966) 1 SCR 168 held that the definition of ‘consideration’ under section 2(d) of the Indian Contract Act and that in the decision of Currie v Misa denotes the same meaning. 3.15 The learned authors in Pollock & Mulla Indian Contract and Specific Relief Acts 11th Edition after referring to the definition of ‘consideration’ as per section 2(d) of the Indian Contra…
