ITAT Upholds AO’s Decision to Treat Rental Income as House Property Income & Disallow Depreciation

Directi Internet Solutions Pvt. Ltd. Vs ITO (ITAT Mumbai) The case of Directi Internet Solutions Pvt. Ltd. vs. Income Tax Officer (ITAT Mumbai) revolves around the taxation treatment of rental income and depreciation claimed by the assessee company for the assessment years 2013-14 and 2014-15. Here’s a detailed summary of the case: Background: Directi Internet Solutions Pvt. Ltd., engaged in IT-enabled services and business support, purchased floors in a building named “Directi Plex Acme Tech Park” through agreements in 2005 and 2010. A portion of the building was leased to M...