https://www.taxtmi.com/forum/issue?id=109800 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. en-us Thu, 28 Jan 2016 15:20:41 +0530 Thu, 23 Jan 2025 15:56:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=109800 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. Discussion-Forum Income Tax Thu, 28 Jan 2016 15:20:41 +0530 https://www.taxtmi.com/forum/issue?id=109800