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2013 (12) TMI 896 - ITAT DELHILeasing of property - valuation - nature of charges received towards amenities i.e renting out car parking spaces, high end air conditioning plant, lift, water supply with power back up, fittings, furnishings and fixtures like wooden cabins and wooden empanelling are common - Statutory deduction u/s 24(a) - Held that:- These are common in nature which are to be provided to the tenants/lessees to carry out their day-to-day works by the landlord, without these they cannot function - For this the assessee has executed multiple agreements with the lessee company - The treatment of an income under the head "house property" is dependent upon the intrinsic nature of the letting out and not on the fact of multiple agreements execution. All the agreements are executed on the same day and assessee has given a plausible reason for drawing different agreements for letting the same house property - All the agreements together constitute a composite transaction for letting out of house property; rent there from is liable under the head income from house property, eligible for statutory deduction u/s 24(a) - In all the earlier years the entire rental income from this property based on these agreements has been considered as income from house property - Following Radhasoami Satsang Vs. CIT [1991 (11) TMI 2 - SUPREME Court] - When facts and circumstances being same the revenue should not deviate and adopt contrary view unless there are extra ordinary circumstances - Decided against Revenue.
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