ITAT confirms Addition for substantial reduction in monthly rental amount

Ms Gurera Industries Limited Vs ITO (ITAT Delhi)

Assessee has declared the rental income from the property at Plot No. A-4, Kosi Kotwan, Mathura, Uttar Pradesh. The said property was given on rent to M/s JBM Auto Ltd. @ 25,000/- per month. The AO noted that earlier for the period 1.4.2008 to 30.11.2008, the rental income from the same party from the from the same property was shown at Rs. 2,25,000/- p.m. The AO, therefore, asked the assessee to explain (that when the rent was earlier higher and the security de

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