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2018 (4) TMI 1349 - AT - Income TaxTaxation income from letting of flats - income from business income or income from house property - assessee agreed to be assessed under the head "Income of house property" with respect to the letting of the flats instead of its earlier claim as filed in return of income to have earned income from business - AO did not gave full effect to the assessee on having himself assessed such income under the head "Income from house property" from letting out of flats because the income came down below the returned income due to statutory deduction allowable to the assessee u/s. 24(a) - Held that:- Assessee in the assessee's own case for 2010-11 and 2011-12 allowing the full effect to the decision of the AO to assess the said income from letting of the flats under the head "Income from House Property‟. Assessing Officer is bound to compute the tax payable by the assessee on the income computed by him even if it is at a lesser figure than the income returned by the assessee. This ground is allowed.
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