Home Highlights February 2015 Year 2015 This

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1. Rental income from mobile towers - the income received by the assessee from the cellular operators/mobile companies is on account of letting out space on the terrace for...

2. Rent received by a person not the owner, taxable as house property income – High Court

3. Letting out of the terrace erection of antenna and income derived from letting out has to be taxed as “income from house property” and not as “income from other sources’ - AT

4. Correct head of income - income from renting of terrace - erection & installation of Antenna Tower - AO directed to treat the same as income from house property in terms...

5. Income from house property - the unrealized rent cannot be taken to be taxable in the hands of the assessee under the head "income from house property" when it is not...

6. Nature of income - income from renting a properties in Mall - Income from house property or busniss income - the income from renting a properties in Mall to be taxed as...

7. The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

8. 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...

9. Correct head of income - Characterization of income - rental income as 'business income' or 'income from house property' - there is no doubt that assessee has object of...

10. Income from house property - ALV u/s 23(1)(a) - In determining the reasonable rent, several factors have to be taken into consideration, such as, location of the...

11. Correct head of income - The provisions of section 56 of the I.T.Act states that in case the property and equipment are let out and if the rent receivable are...

12. Determination of Income from house property - Suppression of rental income - We could appreciate the case of the AO, if he has made reference to the rent deed of...

13. Income from leasing the hotel was income from business and not income from house property - AT

14. 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...

15. Income from house property - annual letting value of unsold flats - Estimating rental income by the AO for these three flats as income from house property was not...