Maintenance charges deductible in ALV calculation of Let Out House Property

Krishna N Bhojwani, Vs. ACIT (ITAT Mumbai) While calculating annual value of the let out property, maintenance charges paid to the society by the assessee is admissible deduction from the annual let out value under section 23(1)(b). Hence, disallowance made by AO was not justified. FULL TEXT OF ITAT ORDER IS AS FOLLOWS: The captioned are cross-appeals by the assessee and Revenue pertaining to assessment year 2007-08. The appeals are directed against the order of the CIT(A)-30, Mumbai, dated 5.12.2011 which in turn has arisen from an order passed by the Assessing Officer dated 27.10.2009 under...