Common maintenance charges received from tenants taxable as business income

DCIT Vs Arham IT Infrastructure Pvt Ltd (ITAT Delhi) Conclusion: Common maintenance charges received from tenants of property were towards maintenance and promotion of common area and the same were business receipts liable to be assessed under the head ‘Income from business’. Held:  Assessee was the owner of a multi-stories properties comprising of ground plus six floors. Assessee had shown revenue from operation of Rs. 2,99,57,551/- and miscellaneous income of Rs. 13,67,06,889/-. During the assessment proceedings, it was explained that income from revenue operation was from common ar...