Deduction Allowed for Lease Rent Paid to Bombay Port Trust u/s 23(1)(b) of Income Tax Act.

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....Claim of Deduction from Rental Income u/s 23(1)(b) - Income from House Property - the assessee is entitled for claim of deduction of lease rent paid to the Bombay Port Trust(BPT) against the Leave and License fee/rent received from the tenants in determining the annual value of the property. - AT....