Contributions received by it from tenants towards sinking fund cannot be assessed as rental income .Followed Mukesh D. Ambani v. ACIT [2006] 7 SOT 521 ( Mum) ( Trib) ( AY.2011-12)
ITO v. Altitus Management Advisors (P.) Ltd. (2018) 169 ITD 702 (Mum) ( Trib.)
S.22: Income from house property -Property leasing – Contributions received from tenants towards sinking fund cannot be assessed as rental income.