Rent from factory building taxable under the head income from house property: Delhi HC

PCIT Vs Mahle Filters Systems (India) Ltd (Delhi High Court) Delhi High Court held that rental income earned from factory building it taxable under the head ‘Income from house property’ and is eligible for deduction under provisions of section 24 of the Income Tax Act. Facts- Revenue has preferred the present appeal contesting that ITAT has erred in deleting the additions upheld by the ld. CIT(A) made by the Assessing officer on the basis of treating ‘income from house property’ declared by the Assessee to ‘income from other sources’ owing to the fact that the Asses...