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Premavati Estates and Investments Vs. Asstt. Cit, Circle 5(9)

Court: Income Tax Appellate Tribunal ITAT Mumbai

Reported in: (2006)8SOT441(Mum.)

that the assessee was having the possession of the building on rent of Rs. 750 from the last 9 years and as such he is the owner thereof in view of the provision of section 27(iiib) of … the Judgment of the jurisdictional High Court in the case of CIT v. Arvindkumar Udhavji (1995) 213 ITR 551 (Bom.). The assessing officer accordingly disallowed the other expenses incurred by the assessee after holding that the assessee