DCIT(E), CIRCLE-1(1), NEW DELHI vs. INDIAN GRAMEEN SERVICES, NEW DELHI
In the result, the appeal of the Revenue in ITA No
ITA 104/DEL/2019[2007-08]Status: DisposedITAT Delhi15 May 2024AY 2007-08
Bench: Ms. Madhumita Roy & Shri Naveen Chandra
For Appellant: Shri Arvind Kumar, AdvFor Respondent: Shri Sandeep Kumar Mishra, Sr. DR
Section 11Section 12ASection 13(2)(a)Section 13(2)(b)Section 13(3)Section 25
…essee went in appeal before the ITAT which set aside the matter back to the CIT(A). In the 2nd round, the CIT(A) discussed the issue of adequacy at length and relying on the Hon'ble ITAT Delhi Bench 'A' in the case of Shree Ram Vaikuntha Trust vs ITO [(1986) 15 ITD 1 (Delhi), came to the conclusion that the rent received from the specified concerns was adequate. The ld. CIT(A) supported his conclusion as under : “The expression 'adequate' means legally sufficient or such as is lawfully and reasonably sufficient. In the case of CCT v. Indo Traders &Agencies (Madras) (P.) Ltd. [1981] 131 ITR 313, it was held by…
