ITAT Allows Section 80-IAB Deduction for Car Parking, Health Club, Food Court & Interest Income

Candor Kolkata One Hi-Tech Structures Pvt Ltd Vs ACIT (ITAT Delhi) Introduction: The case of Candor Kolkata One Hi-Tech Structures Pvt Ltd Vs ACIT (ITAT Delhi) involves an appeal against the CIT (Appeals)’s order for the assessment year 2013-14. The appellant sought deductions under Section 80-IAB for car parking income, health club income, food court income, and interest income. Detailed Analysis: 1. Brokerage Expense Disallowance: The AO disallowed brokerage expenses related to leasing SEZ premises, demanding evidence of agreements or documentation. The CIT (Appeals) upheld the disallo...