The Tax Publishers2020 TaxPub(DT) 5384 (Bang-Trib)

IN THE ITAT, BANGALORE BENCH

A.K. GARODIA, A.M. & BEENA PILLAI, J.M.

Orion Property Management Services Ltd. v. ITO

ITA No. 677/Bang/2018

14 September, 2020

Assessee by : B.R. Sudheendra, CA

Revenue by : S. Sundar Rajan, Addl. CIT-DR

ORDER

Beena Pillai, J.M.

Present appeal has been filed by assessee against Order, dt. 19-12-2010 passed by learned Commissioner (Appeals)-5, Bangalore for assessment year 2004-15 on following grounds of appeal:

General ground:

1. The learned Income Tax Officer, Ward-5(1)(2), Bengaluru (AO) has erred in passing the asst. order in the manner passed by him. and the learned Commissioner of Income Tax, Bengaluru has erred in sustaining the additions made by the learned assessing officer. The order passed by the Commissioner (Appeals) is bad in law and liable to be quashed.

2. The learned Commissioner (Appeals) has erred in sustaining the addition of Rs. 46,38,000 being Sponsorship and Promotional income which was reduced from marketing cost in the Statement of Profit or loss under Note No. 24 Other Expenses. On facts and circumstances of the case and law applicable, the impugned addition of Rs. 46,38,000 should be deleted in entirety.

Addition in respect of Reimbursement of security charges received amounting to Rs. 35,85,414 which was reduced from Security Charges included under the head Operating cost In the Statement of Profit or loss under Note No. 21 - Direct Expenses.

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