ITAT deletes Disallowance made toward Rental Expenses Incurred for Property taken on Rent for Business Purpose [Read Order]

ITAT - Disallowance - toward Rental Expenses Incurred for Property - Rent for Business Purpose - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Delhi bench, deleted the disallowance made towards the rental expenses incurred for a property taken on rent for business purposes. The assessee, U & I Business Services Pvt. Ltd., is a resident corporate entity engaged in the business of leasing property. During the assessment proceedings, the Assessing Officer (AO)…

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