https://www.taxtmi.com/caselaws?id=445912 ITAT Delhi allowed the assessee's appeal regarding depreciation on lifts used in maintenance business. Revenue argued that maintenance services were linked to rental property and standard deduction under section 24(a) already covered maintenance expenses. ITAT held that maintenance income and rental income were separate business activities with distinct agreements. The assessee claimed standard deduction only on rental income, not maintenance income. No depreciation was claimed on the rental property itself. ITAT applied consistency principle, noting no disallowances were made in previous/subsequent assessment years for identical facts, citing CIT vs. Excel Industries. Appeal decided in favor of assessee. en-us Fri, 17 Nov 2023 00:00:00 +0530 Wed, 22 Nov 2023 08:12:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445912 ITAT Delhi allowed the assessee's appeal regarding depreciation on lifts used in maintenance business. Revenue argued that maintenance services were linked to rental property and standard deduction under section 24(a) already covered maintenance expenses. ITAT held that maintenance income and rental income were separate business activities with distinct agreements. The assessee claimed standard deduction only on rental income, not maintenance income. No depreciation was claimed on the rental property itself. ITAT applied consistency principle, noting no disallowances were made in previous/subsequent assessment years for identical facts, citing CIT vs. Excel Industries. Appeal decided in favor of assessee. Case-Laws Income Tax Fri, 17 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445912