TaxTMI 
TaxTMI 
2026 (9) TMI 1165
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....evance of the assessee is against the addition for rental income from letting out the premises at Rs. 1,80,000/-, disallowance of salary expenses paid to Mr. Naresh D. Amlani at Rs. 2,50,000/- and disallowance of interest expenditure at Rs. 4,07,709/-. 3. At the outset, learned counsel for the assessee submitted that the issues raised regarding addition for rental income and disallowance of salary expenses have already been dealt with by this Tribunal in assessee's own case for A.Y. 2014-15, dated 12.02.2026 deciding in favour of the assessee. So far as interest disallowance is concerned, he submitted that Ld.Assessing Officer (AO) made disallowance by allowing the interest expenditure only at 16% as against 18% paid by the assessee. ....
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....ercial property located at Nagpur whereas the property in question is located at Amravati. Ld. DR also failed to controvert the fact that the standard rent of the premises let out by the appellant as per AMC reckoner is Rs. 20,084/- p.a. whereas the assessee has charged rent of Rs. 1,80,000/- p.a. The assessee is showing increased sales as well as higher gross and net profit. Both the assessee and the tenant, who is assessee's son are subject to maximum rate of taxation. Except the Inspector's report, no other credible evidence about the property located at Amravati in the same location fetching higher amount of rent has been placed before me. Considering the consistent rental income shown by the assessee and also the standard rent as per t....
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....ncome. Under these given facts and circumstances, I am of the considered view that the alleged disallowance of salary expenditure is uncalled for. Finding of the Ld.CIT(A) is set aside and ground No.3 raised by the assessee is allowed. 6. On going through the finding of this Tribunal rendered in the case of assessee herself, I find that the same is squarely applicable and therefore addition for rental income at Rs. 1,80,000/- and disallowance of salary expenditure paid to Mr. Naresh D. Amlani at Rs. 2,50,000/- stand deleted. Ground Nos. 2 & 5 are hereby allowed. 7. Third issue relates to disallowance of interest expenditure raised in ground Nos. 3 & 4, I find that the assessee has paid interest on unsecured loans @18%. However, Ld. AO....