Failure to submit relevant information to determine Actual Rent on Unfurnished Flat based on value of Furniture and Fittings of Furnished Flats: ITAT upholds Addition [Read Order]

Failure - submit relevant information - Actual Rent - Unfurnished Flat - Furniture - Fittings of Furnished Flats - ITAT - upholds Addition - taxscan

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, while upholding the addition made by the assessing officer, observed that the assessee failed to submit relevant information to determine the actual rent on an unfurnished flat based on the value of furniture and fittings of furnished flats. The assessee, K Lalchand Private Ltd, is engaged in…

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