Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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ITAT determined key issues regarding income from house property and maintenance charges. The tribunal held that maintenance charges for specific services like security, housekeeping, and infrastructure maintenance should be classified as business income under section 44AD, not income from house property. For the Purvankara Flat, the property was deemed let out under section 23(1)(c), with annual value calculated based on fair rental value since the property remained vacant and was not self-occupied. The AO's assessment of annual value using municipal/fair rental value was upheld. Maintenance charges were directed to be accepted as business income, while the deemed let-out property's valuation was confirmed, partially allowing the assessee's appeal and partially dismissing other grounds.
ITAT determined key issues regarding income from house property and maintenance charges. The tribunal held that maintenance charges for specific services like security, housekeeping, and infrastructure maintenance should be classified as business income under section 44AD, not income from house property. For the Purvankara Flat, the property was deemed let out under section 23(1)(c), with annual value calculated based on fair rental value since the property remained vacant and was not self-occupied. The AO's assessment of annual value using municipal/fair rental value was upheld. Maintenance charges were directed to be accepted as business income, while the deemed let-out property's valuation was confirmed, partially allowing the assessee's appeal and partially dismissing other grounds.
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