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 December 2014 Year 2014 This

Claim of set off of unabsorbed depreciation against the rental ...


Unabsorbed Depreciation Can Offset Rental Income Classified as Other Sources After Business Closure.

December 29, 2014

Case Laws     Income Tax     AT

Claim of set off of unabsorbed depreciation against the rental income treated as income from other sources – discontinued activity - set off allowed - AT

View Source

 


 

You may also like:

  1. 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...

  2. Set-off of unabsorbed deprecation against short term capital gains - if current depreciation is deductible in the first place from the income of the business to which it...

  3. Set off of unabsorbed depreciation allowances against income under the head salary - losses under the head income from business or profession, including unabsorbed...

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

  5. Revision u/s 263 by CIT - Unabsorbed Depreciation or unabsorbed Business Loss - Even, assuming for a moment, the PCIT is right on his observation, but fact remains that...

  6. 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...

  7. When the unabsorbed depreciation could not be set off as against the income from business or profession the same can be set off from income from other sources - HC

  8. Deduction u/s 10B - Here in the case in hand, the total income was first arrived at by the Revenue through the AO in the Assessment Order by computing the total income...

  9. 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...

  10. The ITAT Delhi ruled on the correct classification of income from property lease - whether as rental income, business income, or other sources. The lease agreement...

  11. 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...

  12. Set-Off of brought forward unabsorbed depreciation against income from other sources and/or capital gains - CIT(A) has rightly directed the AO to allow the set off of...

  13. 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...

  14. Set off of unabsorbed depreciation against Income from House Property and Income from Other Sources - the ‘set off’ of the ‘unabsorbed depreciation’ cannot be bridled...

  15. Rental income correctly classified as "income from house property" rather than "income from business" despite composite rent including amenities charges. TDS deducted...

 

Quick Updates:Latest Updates