whether 30% deduction claimed against rental income could be denied for wrong feeding itr showing rental income under other source of income? whether cit can revise the order

[ASHUTOSH TIWARI]

Whether CIT can revise order u/s 263 for claiming of deduction of 30% against the rental income ,which was

wrongly shown under the head income from other sources while feeding itr?

AI Summary

Rental income classification affects entitlement to standard deduction and can trigger revisional action under u/s 263. Whether entitlement to the 30% standard deduction turns on correct classification of receipts as rent rather than other sources, and whether the Commissioner may invoke revisional powers under section 263 where the return shows the receipts under a different head, requires examination of the legal test for treating income as rent, the effect of incorrect disclosure on allowance of the deduction, and the scope and limits of section 263 revision.