Home Highlights February 2014 Year 2014 This

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1. Interest income of the appellant-Corporation - income from other sources u/s 56 or Business income u/s 28 - The business activity of the appellant-Corporation is really...

2. Income from license fees - income under the head ‘Income from other sources’ OR 'business income' - AT

3. Additional income offered on account of excess stock during the course of survey - business income of the assessee OR income from other sources liable to be taxed at a...

4. Set off of the brought forward losses against the income from other sources - Ld. CIT (A) has rightly decided that, “although interest income has been shown as income...

5. Set off of brought forward business loss against income from other sources - As provision of section 72 are very clear that brought forward business loss can only be set...

6. Interest income - Correct head of income - income from other sources OR income from business - if interest income earned by the assessee is not incidental to the...

7. Income declared in the survey carried out u/s 133A - Disallowance of salary to partners claimed u/s.40(b) - We are confronted with a situation, in which both the source...

8. Exemption from GST or not - supply of Security Services rendered to various sites of Municipal Corporations - The Municipal Corporations may also be involved in various...

9. The plea that the Chartered Accountant retained by the Municipal Corporation did not pursue the appeal, did not absolve officers of the Municipal Corporation from...

10. Income from house property - Deduction u/s 23(1) - Annual mixed use charges paid by the assessee to Municipal Corporation - The said charges is in the nature of...

11. Deduction on municipal taxes – Income declared as income from other sources – claim of expenditure/deduction of actual payment made by the assessee in respect of the...

12. Income from other sources or Business income - Search u/s 132(4) - cash was found from the residential and business premises of the assessee - held as business income - AT

13. Whether in real estate business tripartite sale on basis of MOU is business income or income from other source - held as business income - AT

14. Correct head of income - lease rent received by the assessee - Business of assessee taken over by the another Company as was running as JV - assessed under the head...

15. Correct head of income - interest income on FD - Income From Other Sources v/s income from business - The said interest income has been earned by the assessee in the...