Home
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (12) TMI 274 - ITAT MUMBAIEnhancing Income from House Property under the head PGBP - rent received was offered for tax by the assessee under the head Income from House Property - Whether CIT (A) erred in not granting 30% deduction on the gross rent at the time of reducing the corresponding gross rental Income which was taxed under the head PGBP? - HELD THAT:- Prima facie on verification of the facts and evidences substantiating the claim, the total income as per the computation of income is Rs. 36,84,300/-. The Ld. AR demonstrated the Acknowledgement of ITR- 3 filed for A.Y 2020-2021 & A.Y 2021&22 along with the computation of income disclosing the rental income under “Income From house Property”. Further the Ld.AR highlighted on the Tax Audit report U/sec 44AB of the Act along with the Form. 3CB&CD in support of the Income from business and profession and the total income cannot exceed Rs. 38,69,300/-. Prima facie, we find there is no dispute on the disclosure of income and cannot be taxed twice and the revenue has been accepting consistent accounting system adopted by the assessee. Accordingly, we considering the facts and circumstances, set-aside the order of the CIT(A) on the disputed issue of sustaining the addition made by the CPC and direct the assessing officer to delete the addition and allow the grounds of appeal in favour of the assessee.
|