Deemed rental income is applicable to self-occupied properties as stated in section 23(4) of the Income Tax Act, 1961
The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT) observed that deemed rental income applicable to self-occupied properties under Section 23 (4) of Income Tax Act, 1961. The assessee was engaged in the business of manufacture of thermo equipment. Since the assessee had stopped business in the past, it had let out its…
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