Tuesday, March 19, 2019

Bombay HC deleted additions as no evidence was found that assessee charged rent higher than standard rent

IT: Where assessee let out shops in one building to various tenants and one of said shop was illegally sublet to 'P' bank, in view of fact that all other tenants were protected under Delhi Rent Control Act, order passed by Rent Control Tribunal in eviction proceedings directing illegal tenant to deposit certain compensation on monthly basis in Court, could not form basis to make addition to assessee's rental income in respect of other tenants as well

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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