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2015 (7) TMI 912 - AT - Income TaxEligibility of deductions allowable u/s 24 - Computation of income - AO assessed the contractual receipts of ₹ 11,50,000/- as income from other sources and not as income from house property as claimed by assessee - Held that:- There is marked change in the terms of agreement and, therefore, it cannot be held that the entire receipts were towards rent. In the original agreement as per clause 16, the maintenance charges were paid to the society of the building hired by lessee which was in full settlement of the lessee’s obligation towards any charges for common facilities running cost of lifts, lighting, common space, staircase, ground cleaning, maintenance of lawns or parking etc. Any enhancement of the same was to be borne by lessee. However, in the amended agreement the lessor took the responsibility for repair and renew, paint, whitewash and colour the building in the demised premises. Earlier also the maintenance and service charges paid to the society were not part of rent and, therefore, the submission of ld. Counsel cannot be accepted. CIT(A) assessed the contractual receipts of ₹ 11,50,000/- as income from other sources and not as income from house property as claimed by assessee - Decided in favour of revenue.
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