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ITAT Ahmedabad Deletes Deemed Rent on 5 Flats: Accepts Genuine Vacancy Claim but Upholds Addition on Office Property
Case Law Details
- Case Name
- Mohit Vijaykumar Gupta Vs DCIT (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
- Courts
- All ITAT, ITAT Ahmedabad
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Mohit Vijaykumar Gupta Vs DCIT (ITAT Ahmedabad)
ITAT Ahmedabad Deletes Deemed Rent on 5 Flats – Accepts Genuine Vacancy Claim but Upholds Addition on Office Property
Assessee, an individual, filed a return declaring income of ₹10.60 crore. The case was selected for scrutiny due to large capital gain deductions claimed u/s 54, 54B, 54EC, 54EE, 54F, 54G, 54GA, & 54GB. AO assessed income at ₹11.02 crore after making three additions – (i) ₹21.03 lakh under long-term capital gains, (ii) ₹7.43 lakh as deemed rent on five vacant flats in Mumbai, & (iii) ₹13....
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