2002 (8) TMI 889 - HC - Income Tax

Summary

The Delhi High Court ruled that rental income from a flat in a multi-storeyed building is assessable under 'Income from house property' even without legal title through a registered sale deed, based on the Supreme Court decision in CIT v. Podar Cement (P) Ltd. The court concluded in favor of the assessed, stating that possession and payment of full consideration can establish ownership for tax purposes.