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2018 (6) TMI 745 - AT - Income TaxNature of maintenance charges received - property income or income from other sources - Held that:- Issue as squarely covered by the decision of Co-ordinate Bench of this Tribunal in assessee's own case [2013 (11) TMI 656 - MADRAS HIGH COURT] amenity charges cannot be assessed under the head ‘income from house property’ and the same has to be assessed under the head ‘Income from other sources’. Assessing Officer treated the entire income under single head i.e. ‘income from house property’ and restricted the expenses as per. sec.24 of the Act. The income has to be assessed under two heads as above and admissible deduction has to be given - the issue raised in this appeal is restored to the file of ld. Assessing Officer for re-adjudication after granting of opportunity of being heard - thus allowed for statistical purpose. Disallowance of depreciation on fighting and lift equipments - Held that:- following the decision of Co-ordinate Bench of this Tribunal in assessee's own case this issue is also restored to the file of ld. Assessing Officer for re-adjudication after granting of adequate opportunity of being heard - thus allowed for statistical purpose. Amount paid for breach of contract - capital or revenue expenditure - Held that:- The violation of the conditions of MOU has led to the cancellation of the joint venture and the assessee being held responsible for repayment of part of expenditure incurred as also damages - this is nothing, but loss of capital - thus AO was right in holding that the expenditure was in fact loss of capital and not revenue expenditure - Decided against the assessee.
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