Held that the assessee continues to be the owner of premises despite sale thereof, the rental income therefrom is assessable under the head ‘Income from house property and consequently, assessee is entitled for statutory deduction@ 30 per cent under S. 24(a). (AY.2003-04)
Dy. CIT v. Piramal Enterprises Ltd. (2022) 216 TTJ 802 (Mum)(Trib)
S. 22 : Income from house property-Income from other sources-Ownership was with the assessee despite the sale of property-Rental income assessable as Income from house property-Entitle to statutory deduction of 30%. [S. 24(a), 56]