Tag Archives: Commissioner of Income-tax Calicut v. Dr. K.M. Mehaboob

Sec .23(1) applies if buildings let out by owner to his own company

Facts of the case The property is owned by the co-owners themselves, who are also the Directors of the lessee company which has established the Hospital. As per the lease agreement between the co-owners and the lessee company, the mutually agreed rent is Rs.1 per sq.ft. However, a portion of the very same building is… Read More »