2023 (6) TMI 340

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.... (A) erred in upholding the Maintenance Income of Rs.7,70,688/- received from tenants as Income from House Property and erred in upholding allowing of Standard Deduction @30% only against the same and further erred in upholding disallowance of all the expenses incurred against the Maintenance Income. 2. That on the facts and circumstances of the case, the Ld. CIT (A) further erred in upholding disallowance of all the expenses claimed against Maintenance Income under the head "Profits and Gains from Business & Profession" without appreciating the fact that all the expenses incurred are otherwise allowable to the appellant company as necessary for maintaining the status of the appellant company as a company." 3. As can be seen fro....

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.... agreements with the tenants, one for rental income and other for maintenance charges. He submitted, the maintenance charges cannot be treated as part of rental income since, they are for actual expenses incurred by the assessee for certain facilities provided to the tenant. In support of his contention, learned counsel for the assessee relied upon following decisions : (i). M/s. Kirloskar Systems Ltd. vs. ACIT (ITAT, Bangalore Bench)(ITA Nos. 720 & 721/Bang/2011- order dated 29.11.2013). (ii). CIT vs. Model Manufacturing Co. Pvt. Ltd. (1986) 159 ITR 270(Cal.) (iii). CIT vs. Kanak Investments (Pvt) Ltd., (1974) 95 ITR 419 (Cal). 6. Learned departmental representative strongly relied upon the observations of the....