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Tax on income of Co-Op. Society from letting out of terrace
Case Law Details
- Case Name
- Citi Centre Premises Co-Op. Society Ltd. Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14 and 2014-15
- Courts
- All ITAT, ITAT Mumbai
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Citi Centre Premises Co-Op. Society Ltd. Vs ITO (ITAT Mumbai)
The issue in dispute in that case as per the Para reproduced from the Tribunal’s order above is regarding rent received from Reliance Telecom and in that case also, the assessee claimed a deduction u/s. 24 (a) of Rs. 1.65 Lakhs being 30% of such rental amount of Rs. 5.50 Lakhs. AO disallowed the same by holding that if income is liable to be taxed as income from other sources and not under the head Income from House Property. He made disallowance of the claim for deduction u/s. 24 (a) of the Act. Aggrieved, assess...
