Home Highlights May 2014 Year 2014 This

You may also like:

1. The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

2. Leased rental received - Income from house property - During the first year of lease he has agreed to receive the 60% profit of the business as annual rental income but...

3. Claim of exemption on Rental income from Umed Bhawan Palace u/s 10(19A) - whether Ruler is entitled to claim exemption for the whole of his residential palace or such...

4. Rental Income - Business Income vs Income from House Property - rental income received from Ms. Rekha Jalan (director) has to be treated as business income and rental...

5. Income assessable under the head ‘Income from House Property’ - The adoption of an enhanced rate does not breach the theory of real income inas- much as what the law...

6. Correct head of income - Lease rent received - to be treated as business income or as income from other sources - There was no attempt to exploit the commercial assets...

7. Deduction from Rental income - Disallowance on account of Security Expenses and Gardening Expenses, respectively as part of annual value under Income from House Property...

8. Addition under the head income from house property - A.O is directed to reduce the expenses incurred by the assessee for rendering additional services to the tenants for...

9. Rental income earned by assessee should be assessed as income from house property, not business income. AO failed to highlight aspects indicating rental income was...

10. Annual value determination - Estimating the value of the house property - assessee should be granted vacancy allowance.

11. Rental income - annual value determination made by the AO merely on the basis of the rent paid by the earlier tenant in the premises - The annual value as available u/s...

12. Disallowance u/s 43B on account of GST remaining unpaid - Facts relating to the issue need to be determined and verified in the first place, including amongst other...

13. Correct head of income - taxability of rental income - the assessee is owner and thereby receives any income from house property, it should be taxed under the head...

14. Correct head of income - Cash received as rental income - assessee could not prove the existence of the persons against whom he has shown the cash receipt as rental...

15. Addition towards difference between the rental income received by the assessee from M/s.CFD, a partnership firm and rental income received by the partnership firm,...