Notional Rent Reduced on Multiple Properties; Covid Vacancy & Ownership Issues Considered – House Property Income Recomputed by ITAT Hyderabad

Satya Sayee Babu Divi Vs ACIT (ITAT Hyderabad) Notional Rental Additions on Multiple Properties Partly Deleted – Covid Vacancy & Lack of Ownership Considered – House Property Income Reworked – ITAT Hyderabad The assessee challenged multiple additions made under the head “Income from House Property” based on notional/fair rental value of several residential properties. As reflected from the table on page 3, the AO had added notional rent for properties such as Lodha Kukatpally, Maharaja Towers penthouse, Bhavya Sri Arcade and others, increasing total income to ₹2.62 crore. ITAT ...