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ITAT ruled in favor of the assessee regarding treatment of Common Area Maintenance Charges recovery. The AO had treated CAMC recovery as rental income taxable under house property, creating a discrepancy between TDS certificate amounts and declared rental income. The assessee successfully demonstrated that CAMC recovery was merely reimbursement of expenses paid to tenants, which was netted off against actual CAMC payments with balance debited to P&L account without claiming deduction against house property income. CIT(A) found no infirmity in the explanation supported by documentary evidence. ITAT directed deletion of the addition, holding that sufficient explanation with evidence was provided for the rental income difference.
ITAT ruled in favor of the assessee regarding treatment of Common Area Maintenance Charges recovery. The AO had treated CAMC recovery as rental income taxable under house property, creating a discrepancy between TDS certificate amounts and declared rental income. The assessee successfully demonstrated that CAMC recovery was merely reimbursement of expenses paid to tenants, which was netted off against actual CAMC payments with balance debited to P&L account without claiming deduction against house property income. CIT(A) found no infirmity in the explanation supported by documentary evidence. ITAT directed deletion of the addition, holding that sufficient explanation with evidence was provided for the rental income difference.
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