M/S. JAY BHARAT MARUTI LTD.,NEW DELHI vs. DCIT, NEW DELHI
In the result, the appeal is allowed
ITA 4672/DEL/2011[2005-06]Status: DisposedITAT Delhi29 Nov 2022AY 2005-06
Bench: Shri G.S. Pannu, Hon’Ble & Shri Saktijit Deyassessment Year: 2005-06 & Assessment Year: 2006-07 Acit, Vs. M/S. Jay Bharat Maruti Ltd., Circle-4(1), 601, Hemkunt Chamber, New Delhi 89-Nehru Place, New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & C.O. No.113/Del/2012 [Arising Out Of Ita No.908/Del/2012] Assessment Year: 2005-06 & C.O. No.114/Del/2012 [Arising Out Of Ita No.909/Del/2012] Assessment Year: 2006-07 M/S. Jay Bharat Maruti Ltd., Vs. Acit, 601, Hemkunt Chamber, Circle-4(1), 89-Nehru Place, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent) & Assessment Year: 2005-06 M/S. Jay Bharat Maruti Ltd., Vs. Acit, Neel House, Lado Sarai, Circle-4(1), Opp. Qutab Minar, Mehrauli, New Delhi New Delhi Pan :Aaacj2021K (Appellant) (Respondent)
Section 143(3)Section 147
reassessment proceeding, the
Assessing Officer issued a show-cause notice to the assessee to
explain, why the deduction claimed towards payment of lease rent
amounting to Rs.6,68,43,636/- to State Bank of India should not
be disallowed. In response to the show-cause notice, the assessee
submitted that the lease rent of Rs.19,28,97,000/- debited
