Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2014 Year 2014 This

Rental income from letting out of warehouses/godowns together ...


High Court Rules Rental Income from Warehouses Isn't Business Income u/s 28; Exempt from Business Tax Assessment.

November 28, 2014

Case Laws     Income Tax     HC

Rental income from letting out of warehouses/godowns together with various services rendered to the occupant did not constitute a business activity and the income was not assessable u/s 28 as business income - HC

View Source

 


 

You may also like:

  1. Correct head of income - income from letting out of warehouses or property to lessees - in cases where the earning of the rental income is the exclusive or predominant...

  2. Revision u/s 263 by CIT - rental income which had been shown as “Income from Business & Profession” rather than showing the same as “Income from House Property” - once...

  3. Warehousing rental charges - Nature of income – the rental charges received by the assessee are assessable under the head income from business and not under home property - HC

  4. 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...

  5. 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...

  6. Revision u/s 263 - Classification of rental income - House property v/s business income - The Appellate Tribunal observed that the Assessee is primarily engaged in...

  7. Nature of income - Income from warehouse - income from warehouse has to be assessed under the head income from house property not under the head income from business and...

  8. This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

  9. 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...

  10. Deduction u/s. 32AB - rental income - The court analyzes the definition of "eligible business or profession" under Section 32AB(2)(i) and determines that it encompasses...

  11. The case pertains to the taxability of a reserve arising from an amalgamation u/s 28(iv) and Section 56(2)(x)(c) of the Income Tax Act. The key points are: The appointed...

  12. Correct head of income - the major source of income for the assessee is rental income. The assessee obtained long-term lease of the property and sub-leased the same in a...

  13. 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...

  14. Correct head of income - Income from leasing or letting out the properties in shopping-cum-entertainment Mall - “income from business” or “income from house property” -...

  15. Treatment of rental income under house property - Disclosure of rental income received from the property by the assessee as business receipts and the assessee has...

 

Quick Updates:Latest Updates