https://www.taxtmi.com/caselaws?id=311349 The HC ruled in favor of the assessed, determining that rental income from a flat in a multistoreyed building should be assessed under 'Income from house property' even without a registered sale deed. The decision aligned with the SC's interpretation in CIT v. Podar Cement (P) Ltd., which held that for tax purposes, ownership is defined by the right to receive income rather than legal title formalities. The HC emphasized that the entitlement to income is the key factor for tax assessment, consistent with the Income Tax Act's objective to tax income. en-us Fri, 20 Feb 2004 00:00:00 +0530 Mon, 08 Jan 2024 16:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311349 The HC ruled in favor of the assessed, determining that rental income from a flat in a multistoreyed building should be assessed under 'Income from house property' even without a registered sale deed. The decision aligned with the SC's interpretation in CIT v. Podar Cement (P) Ltd., which held that for tax purposes, ownership is defined by the right to receive income rather than legal title formalities. The HC emphasized that the entitlement to income is the key factor for tax assessment, consistent with the Income Tax Act's objective to tax income. Case-Laws Income Tax Fri, 20 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311349