Rental income earned on immovable properties owned by his family ...

Rental Income Dispute Resolved: Tribunal Clears Family-Owned Properties of Revenue's Ownership Claims.

May 2, 2024

Case Laws     Income Tax     AT

Rental income earned on immovable properties owned by his family members - Benami Owner - The Revenue's case relied primarily on a CBI report, which was subsequently dropped. The Appellate Tribunal held that the Revenue failed to prove the assessee's ownership of the properties, especially considering the evidence provided by the assessee and the acceptance of rental income by the Revenue. Consequently, the addition of rental income was directed to be deleted.

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