ITAT Deletes Expense Disallowance as CAM Charges Were Taxed as Business Income

DCIT-CC-8(4) Vs Offbeat Developers Private Limited (ITAT Mumbai) The Mumbai Income Tax Appellate Tribunal examined Revenue appeals involving disallowances made on various expenses claimed by a mall developer engaged in leasing property and providing related services, where income was offered under both “Income from House Property” and “Profits and Gains from Business or Profession.” The Assessing Officer had proportionately allocated several expenses to house property income based on the ratio of rental income to total income and made disallowances on repairs and maintenance, legal and...