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2014 (2) TMI 460 - AT - Income TaxDisallowance out of business maintenance expenses – Held that:- 1/3 portion of the properties at Lucknow and Moradabad were let out, therefore, the income from house property is to be computed with respect to the said 1/3 property let out to different tenants and while allowing standard deduction as per clause (a) of section 24 of the Act, 30% of the annual value is required to be deducted - no other maintenance expenses are allowed to be deducted as there is no specific provision in this regard in the Act – the Assessing Officer has rightly disallowed 1/3 of maintenance expenses claimed by the assessee while computing deduction under section 24 of the Act – the assessee could not place any relevant material on record, according to which the assessee can claim maintenance expenses besides standard deductions envisaged under section 24 of the Act while computing the income from house property – there was force in the observations of the CIT(A) that the entire expenditures need to be disallowed while confirming the disallowance. Disallowance claimed as bad debts – Held that:- The CIT(A) has confirmed the disallowance following the disallowance made in assessment year and nothing has been placed on record as to what has happened to the said disallowance - Whether it was challenged before the appellate authorities or it was accepted by the assessee – as per advice of the RBI provision of the investment is possible during the first three years - its provision cannot be allowed without any further instruction of the RBI - The assessee has claimed provision during the assessment year without any advice of the RBI against the provisions of the Income-tax Act - the claim raised by the assessee is not in accordance with the law and the CIT(A) is justified in disallowing the same – the order of the CIT(A) upheld – Decided against Assessee.
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