M/S SHEETU EDUCATIONAL SERVICE PVT LTD.,INDORE vs. THE DCIT 5(1), INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our

Bench: Shri D.T. Garasia & Shri O.P. Meena

depreciation on the building which was used by it for the purpose of its business and also leased out as per term agreed by the assessee company with AUCKLAND ACADEMY. Thus, there is no reason for taxing the notional income by invoking the provision of section 23 of the Income Tax Act. The assessee has leased out the said building

M/S. SHEETU EDUCATIONAL SERVICES P. LTD.,INDORE vs. THE DCIT 5(1), INDORE

In the result, all the appeals of the assessee for assessment year 2005-06 to 2010-11 are partly allowed as per our