Capital Gain Deductibility: proportionate IPO and PMS expenses held allowable against capital gains where netting and nexus to transfer are establishe...
Admissibility of Documentary Evidence: appellate authority may admit self explanatory documents on first production and uphold deletion of unexplained...
Common area maintenance (CAM) charges paid with rent retain a separate character when they represent maintenance and allied services for common areas; rent remains subject to TDS as rent, while separately identifiable CAM charges are deductible under the provision for contract or service payments. The ITAT accepted the CIT(A)'s view, followed the coordinate Bench ruling in the assessee's own case, and treated the hotel-room rent precedent as factually distinguishable. The demand raised for non-deduction of tax and the consequential liability were deleted.
Common area maintenance (CAM) charges paid with rent retain a separate character when they represent maintenance and allied services for common areas; rent remains subject to TDS as rent, while separately identifiable CAM charges are deductible under the provision for contract or service payments. The ITAT accepted the CIT(A)'s view, followed the coordinate Bench ruling in the assessee's own case, and treated the hotel-room rent precedent as factually distinguishable. The demand raised for non-deduction of tax and the consequential liability were deleted.
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