JK INVESTMENT,MUMBAI vs. CIT (A), MUMBAI

ITA 2013/MUM/2023Status: DisposedITAT Mumbai26 September 2023AY 2012-20135 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the amenities provided were an integral part of the premises and inseparable from the rental agreement. Therefore, the claim for deduction was found to have merit.

What were the facts?

The assessee, a partnership firm, claimed a 30% deduction on rental income from amenities, treating it as income from house property. The AO disallowed this deduction, considering the amenities income as income from other sources.

What were the issues?

Whether rent received for amenities, which are integral to the rented premises, can be treated as income from house property and allowed standard deduction.

Which sections of the Income-tax Act were involved?

Section 24(1)(a)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC” BENCH,

Before: SHRI AMARJIT SINGH

For Appellant: Shri. Shashank Mehta
For Respondent: Shri. Prakash Kishinchandani
Hearing: 07.09.2023Pronounced: 26.09.2023

PER AMARJIT SINGH :-

1.

The present appeal filed by the assessee is directed against the order passed u/s 250 of the Income Tax Act, 1961 ([hereinafter “the Act”] by the Learned Commissioner of Income Tax (Appeals)- 32/National Faceless Appeal Centre, Delhi [hereinafter „the CIT(A)‟] dated 31.03.2023 for A.Y 2012-13. 2. The grounds of appeal of the assessee are as under:

1.

The Ld. CIT(A) has completed the assessment without considering the facts & circumstances of the case, which is contrary to law and is against the principles of natural justice.

P a g e | 2 AY 2012-13 J K Investement

2.

The Ld. CIT(A) has erred in passing the order against appellant without considering the submissions dated 10.02.2021 made by the appellant which are o

The order continues below.

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