Case Law Details
Case Name : PSB Industries India Pvt. Ltd. Vs CIT (Delhi High Court)
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Courts :
All High Courts Delhi High Court
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PSB Industries India Pvt. Ltd. Vs CIT (Delhi High Court)- Section 22 of the Act makes “income from house property” as chargeable to income tax. After excluding such portions of such property as he may occupy for the purposes of any business or profession carried on by him the profits of which are chargeable to income tax.
It is the annual value of the property which becomes chargeable to income tax under this head. Section 23, already extracted above, stipulates the manner in which such an annual value is to be determined. It is clear from Clause (a) of sub-Section (1) of Section 23 of th...
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