ITAT allows expenditure incurred on amenities provided to tenants against house property income

Bagaria More Co. Ltd. Vs ADIT (ITAT Kolkata) Introduction: The recent ruling of ITAT Kolkata in the case of Bagaria More Co. Ltd. Vs ADIT has raised crucial points regarding the treatment of the cost of amenities provided to tenants. The Tribunal deleted the addition of Rs. 99,73,966 initially made by the Assessing Officer, redefining the way income from house property is computed. The decision has potentially far-reaching implications for property owners and taxpayers. Grounds for Appeal: The assessee contested the decision of the National Faceless Appeal Centre (CIT(A)), which had confirmed ...