https://www.taxtmi.com/caselaws?id=285818 A charitable trust assessing rental income under the head income from house property for section 11 purposes is entitled to the standard deduction under section 24. The Tribunal reasoned that the Income-tax Act contains no exclusion denying a charitable trust the benefit of section 24 where the income is otherwise taxable under that head, and that the provision itself permits the statutory 30% deduction from rental income. The Assessing Officer's attempt to confine computation to a commercial basis was therefore rejected, and the disallowance of the deduction was held unsustainable. en-us Mon, 25 Mar 2013 00:00:00 +0530 Tue, 28 Jan 2020 17:19:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285818 A charitable trust assessing rental income under the head income from house property for section 11 purposes is entitled to the standard deduction under section 24. The Tribunal reasoned that the Income-tax Act contains no exclusion denying a charitable trust the benefit of section 24 where the income is otherwise taxable under that head, and that the provision itself permits the statutory 30% deduction from rental income. The Assessing Officer's attempt to confine computation to a commercial basis was therefore rejected, and the disallowance of the deduction was held unsustainable. Case-Laws Income Tax Mon, 25 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285818