https://www.taxtmi.com/caselaws?id=56627 The appellant's argument to tax only the actual receipt of Rs. 1,250 per month as property income was rejected. The court upheld the assessment of rent at Rs. 2,500 per month, citing evidence supporting this amount. The payment of Rs. 75,000 was deemed a capital payment, not deductible under section 24(1)(iv). The appellant failed to prove diversion of income at source. Legal precedents were referenced to support disallowing the Rs. 1,250 monthly payment deduction. Consequently, all three appeals were dismissed, affirming the departmental authorities' assessment of income at Rs. 2,500 per month. en-us Thu, 31 Oct 1991 00:00:00 +0530 Mon, 06 Dec 2010 09:39:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56627 The appellant's argument to tax only the actual receipt of Rs. 1,250 per month as property income was rejected. The court upheld the assessment of rent at Rs. 2,500 per month, citing evidence supporting this amount. The payment of Rs. 75,000 was deemed a capital payment, not deductible under section 24(1)(iv). The appellant failed to prove diversion of income at source. Legal precedents were referenced to support disallowing the Rs. 1,250 monthly payment deduction. Consequently, all three appeals were dismissed, affirming the departmental authorities' assessment of income at Rs. 2,500 per month. Case-Laws Income Tax Thu, 31 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56627