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2010 (2) TMI 407 - HC - Income TaxAssessment- the assessee-respondent is a public sector undertaking engaged in the business of running of tourist complexes, hotels/motels/resorts. It declared rental income of Rs. 1,16,50,981 under the head “Income from house property” after claiming deduction under section 24 of the Act. Tribunal held that the assessment had to be made as income from house property. The Tribunal also allowed claim for deduction and depreciation. Held that- once a similar proposition had been accepted by the Revenue in respect of assessment year 1997-98, then it was not open to it to challenge a similar finding and deviate from its earlier stand. Thus the Tribunal is right.
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