https://www.taxtmi.com/caselaws?id=402446 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to delete the addition of Rs. 37,97,657/- towards Bombay Port Trust (BPT) lease rent. The Tribunal held that the lease rent paid to BPT should be deducted from the rental income received from tenants while determining the annual value of the property under Section 23(1)(b) of the Income Tax Act. The order was pronounced on 20.10.2020. en-us Tue, 20 Oct 2020 00:00:00 +0530 Sat, 02 Jan 2021 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402446 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to delete the addition of Rs. 37,97,657/- towards Bombay Port Trust (BPT) lease rent. The Tribunal held that the lease rent paid to BPT should be deducted from the rental income received from tenants while determining the annual value of the property under Section 23(1)(b) of the Income Tax Act. The order was pronounced on 20.10.2020. Case-Laws Income Tax Tue, 20 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402446