DCIT, CIRCLE - 3(1), VISAKHAPATNAM vs. NORD ANGLIA EDUCATION INFRASTRUCTURE PRIVATE LIMITED, VISAKHAPATNAM

In the result, all the appeals filed by the revenue, viz

Bench: Shri Ravish Sood & Shri Balakrishnan S.

capital that was utilized for acquisition/construction of buildings from which rental income was declared by the assessee company. 9. The AO, further observed that as loans/cash credit facility aggregating to Rs. 17.37 crores (approx) that were availed by the assessee company were not utilized towards construction of the properties from which rental income was being offered, but were availed

DCIT, CIRCLE -3(1), VISAKHAPATNAM vs. NORD ANGLIA EDUCATION INFRASTRUCTURE PRIVATE LIMITED, VISAKHAPATNAM

In the result, all the appeals filed by the revenue, viz