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 September 2015 Year 2015 This

Rental income - earlier assessee was showing the income as house ...


High Court Allows Deduction for Payment to Tenant in Rental Income Case Reclassified as Business Income.

September 19, 2015

Case Laws     Income Tax     HC

Rental income - earlier assessee was showing the income as house property income - this year the income was shown as business income - claim of deduction of amount paid to tenant for vacating the property allowed - HC

View Source

 


 

You may also like:

  1. 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...

  2. ITAT upheld CIT(A)'s decision allowing deduction of Finance Lease Rental Payments under section 37(1) as revenue expenditure. Revenue's appeal challenging depreciation...

  3. 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...

  4. Entitled to deduction u/s 80IA (4)(iii) on rental income - where the main business of the company is to earn rental income as its business income, the income would be...

  5. The High Court examined various issues concerning the calculation of deduction u/s 80IC, eligibility for the deduction, disallowance of royalty payments, and treatment...

  6. Disallowance of deduction u/s 80P - Addition in respect of rental income earned and Income from sale of crackers - The Tribunal held that the deduction u/s 80P is...

  7. Rectification u/s 154 - Deduction claimed u/s. 80IAB - Wrong classification of income under the head ‘income from house property’, has resulted in wrong claim of...

  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. 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...

  10. Characterization of income - rental income earned by the assessee as income from the business - The parting of possession of godown, particularly in the circumstances of...

  11. 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...

  12. 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,...

  13. Service charges received by the assessee from tenants - Income from house property or business income - service charges received by the company from the tenants is...

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

  15. 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...

 

Quick Updates:Latest Updates