Assessee can decide Self occupied & Deemed let out property for Taxation

Bipin Sureshchandra Mehta Vs ACIT (ITAT Mumbai) The issue under consideration is whether the assessee having two properties has right to choose Self occupied and deemed let out property for the purpose of taxation? In the present case, the assessee has two properties during the year, one at Mumbai and 2nd at Lonavala. The assessee did not file any details of these properties during the assessment proceedings and AO assessed the deemed rent on the basis of value of property shown in the balance sheet by applying 8% on the cost. During the assessment proceedings, the Ld. A.R. submitted before th...