Property Ownership Dispute: Rental Income Not Taxable

The High Court of Bombay held that the rental income of Rs. 29,16,242 was not assessable in the hands of the Appellant as they were not the owner of the property. The court admitted the case based on the substantial question of law regarding ownership and assessment of rental income.

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The High Court of Bombay heard a case where the Tribunal erred in holding that rental income of Rs. 29,16,242 was assessable in the hands of the Appellant, who was not the owner of the property. The court admitted the case based on the substantial question of law regarding ownership and assessment of rental income. (Case citation: 2013 (3) TMI 825 - BOMBAY HIGH COURT)

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