profit u/s 115JB
of the Act
Disallowance of depreciation on sample Flat Ground No.3 & 4
Capitalisation of foreign exchange loss to Ground ... Ground No. 3 and 4 are regarding the depreciation on sample flat. During
the course of assessment the AO noticed that the assessee has claimed
profit u/s 115JB
of the Act
Disallowance of depreciation on sample Flat Ground No.3 & 4
Capitalisation of foreign exchange loss to Ground ... Ground No. 3 and 4 are regarding the depreciation on sample flat. During
the course of assessment the AO noticed that the assessee has claimed
above, the CIT (A) erred in holding that site office and
sample flat expenses incurred were in contravention of law and upheld
invoking of Explanation ... erred in also holding that the
expenditure incurred on site and sample flat of Rs. 77,82,113 were pre-
operative expenses, without appreciating
flats have
been sold i.e. two adjoining flats to the same buyer. However, he
admitted that the adjoining flats were sold to the members ... adjacent flats and by seeing this behaviour more
19
customers became interested in the pair of flats i.e. to buy adjoining
flats
flats, namely, flat No. 102 and flat No. 602. The assessee
explained before the AO that flat No. 102 is used as a sample flat ... submissions of
the assessee that flat No. 102 was kept as sample flat and flat No. 602
was used as marketing office have not been
purchased the aforesaid goods which were put to use in its sample flats.
However, the A.O held a conviction that the assessee would have
services for the Designing
Ltd. company's sales office and smaple flat Fees for the
in Dubai. This inter-alia includes Company ... recommend indoor planters for the services are
project sales office and sample flat. not table as
HBA provides its report detailing 'Fees for
above
2015
Interest disallowances of advances made to group
entities.
Depreciation on sample flats.
We have considered the submissions made and the Report of the
Director
assessee was only
able to obtain bookings for two (2) flats in the proposed development.
In the same year, the assessee entered into an agreement ... pure
irrevocable option to purchase twenty (20) flats in this project. Copy
of a sample option agreement along with supplementary agreement is
found placed
various Buildings
25 Details of Cancellation of Flats effected upto F.Y. 12-13 331 332
26 Sample Copy ... agreement made at the time of Booking 333 391
of Flat
27 Sample Copy of the Cancellation agreement of the Flats 392 429
booked
