Assessee having 2 properties has right to choose self occupied and deemed let out property for taxation purpose

Assessee having 2 properties has right to choose self occupied and deemed let out property for taxation purpose  

IN THE INCOME TAX APPELLATE TRIBUNAL

The Relevant Text of the Order as follows :

11. After taking into account all the facts and circumstances of the case, we observe that the assessee is well within his rights to choose one of the two properties as self occupied and offered the property as deemed let out at his option. Therefore, we are treating the house at Mumbai as deemed let out and house at Lonavala as self occupied. Accordingly, we set aside the order of Ld. CIT(A) and direct the AO to assess the deemed rent on the same basis as has been done in the assessment year 2012-13.

Read Order

Tags:  Judgement, Appellant Tribunal, Income Tax

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