NITESH ESTATES PVT. LTD. Vs. THE DEPUTY COMMISSIONER OF INCOME TAX
LAWS(IT)-2014-8-8
INCOME TAX APPELLATE TRIBUNAL
Decided on August 28,2014

Nitesh Estates Pvt. Ltd. Appellant
VERSUS
The Deputy Commissioner of Income Tax Respondents

JUDGEMENT

N.V.Vasudevan, Member (J) - (1.) THESE are appeals by the Assessee against the two orders, both dated 27.3.2013, of CIT(A) -III Bangalore, relating to assessment years 2008 -09 & 2009 -10.
(2.) IN the appeal relating to AY 09 -10, in ground No. 3, the Assessee has challenged the disallowance of expenses incurred in earning income which is not chargeable to tax by invoking the provisions of Sec. 14A of the Income Tax Act, 1961 (Act). The same was, however, not pressed for adjudication at the time of hearing. Therefore the said ground of appeal is dismissed as not pressed. The only common issue that requires adjudication by us in these two appeals is as to whether the disallowance of a sum of Rs. 4,48,69,595/ - in AY 08 -09 and a sum of Rs. 50,00,884/ - in AY 09 -10 being compensation payable to Mr. Mahesh Bhupathi, claimed as a deduction by the Assessee while computing income from the project 'Nitesh Long Island', on the ground that the said expenditure is not relatable to the project 'Nitesh Long Island', is proper.
(3.) THE facts that are necessary for adjudication of the aforesaid common issue are as follows.;


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