House Property, Income Tax

[RAHUL MALHOTRA]

Hello

I stuck in a controversial issue related to house property income received by partner from partnership firm. Facts are very similar to case law CIT V. Rasiklal Balabhai [1979]= (1978 (10) TMI 22 - GUJARAT High Court). In previous year, partner got Rs. 2,25,000/- as a rent from partnership firm for renting premises by partner that was used by firm to carrying on business.. As per supra case law income earned by partner as a rent is exempt but in some other court cases decision aforesaid amt is being taxed. please guide what to do?? Thanks in advance.

Regards

Rahul

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Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in the above said issue? If not please inform.