House Property Tax Relief Granted on Rental Income Due to Consistency Rule

Western Industrial Co-operative Estate Limited Vs DCIT (ITAT Mumbai) Rental from Administrative Building Is House Property Income; Rule of Consistency Applies: ITAT Mumbai Grants Major Relief to Co-operative Estate Mumbai ITAT allowed substantial relief to the Assessee-society by reversing multiple additions and restoring certain issues for fresh examination. The Assessee, a co-operative society allotted land by MIDC, earned substantial rental income from sub-letting its administrative building on leave & licence basis. Though such income had consistently been assessed as “Income from Ho...