$~4

*

IN THE HIGH COURT OF DELHI AT NEW DELHI

+

ITA 160/2022 & CM APPL.24125/2022

PCIT MUMBAI 1

..... Appellant

Through:

Mr. Sunil Agarwal, Advocate with

Mr. Tushar Gupta and Mr. Utkarsh

Tiwari, Advocates.

versus

ELEL HOTELS AND INVESTMENTS LTD

..... Respondent

Through:

Mr. Gaurav Jain with

Ms. Akshita Goyal and Mr. Shubham

Gupta, Advocates.

%

Date of Decision: 31^st May, 2022

CORAM:

HON'BLE MR. JUSTICE MANMOHAN

HON'BLE MS. JUSTICE MANMEET PRITAM SINGH ARORA

J U D G M E N T

MANMOHAN, J (Oral)

1.

Present appeal has been filed challenging the order dated 16

:

th

2.

Learned counsel for the Appellant states that the Tribunal erred in

holding that the payment of Rs.30.86 crores made to ITC Ltd. was revenue

in nature without considering the fact that the assessee itself declared the

same as capital expenditure in its return of income. He further states that the

Tribunal erred in holding that the improvement in lease rights was not a

capital expenditure in the hands of the assessee when in fact the payment to

February, 2021 passed by the ITAT in ITA No. 918/DEL/2010.

This is a digitally s