No Disallowance of Business Expenses for Service Charges Collected from Tenant under the Head “Income from Business”:ITAT [Read Order]

No Disallowance of Business Expenses - Disallowance - Service Charges Collected from Tenant -Business Expenses - Tenant - Service Charges- Income from Business - ITAT - taxscan

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT),held that the service charges collected from the tenant were accepted as assessable under the head “income from business”, therefore, the expenses which are having nexus with the purpose of the business has to be allowed. The assessee company M/s. Gentex Merchants Pvt. Ltd. had filed its…

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