https://www.taxtmi.com/caselaws?id=331439 The High Court of Calcutta dismissed the revenue's appeal for the assessment year 2005-06, upholding the Income Tax Appellate Tribunal's decision. The court ruled in favor of the assessee regarding the deletion of rental income due to the sale of a portion of the property to companies. It held that the assessee, despite not being the absolute owner, was entitled to the benefit of tax deducted at source as the rent was collected entirely and shared with co-owners, including the tax amount. The court emphasized that claiming the tax deduction necessitated accepting the tax liability on the entire rental income. en-us Wed, 10 Aug 2016 00:00:00 +0530 Tue, 23 Aug 2016 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331439 The High Court of Calcutta dismissed the revenue's appeal for the assessment year 2005-06, upholding the Income Tax Appellate Tribunal's decision. The court ruled in favor of the assessee regarding the deletion of rental income due to the sale of a portion of the property to companies. It held that the assessee, despite not being the absolute owner, was entitled to the benefit of tax deducted at source as the rent was collected entirely and shared with co-owners, including the tax amount. The court emphasized that claiming the tax deduction necessitated accepting the tax liability on the entire rental income. Case-Laws Income Tax Wed, 10 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331439