Home Highlights December 2015 Year 2015 This

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1. 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...

2. 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...

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

4. 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...

5. Income from house property - Income received on leasing of land and building - the assessee had correctly shown the said income under the head “income from house...

6. Clubbing of Income - Addition of Rental Income earned by the Spouse of the Assessee, in the hands of the Assessee, U/s 64 - The ld. CIT(A)’s contention that the husband...

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. Addition on account of house rent - Income from house property - The AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1...

9. Addition of unrealized rent under the head ‘Income from House property’ – Section 25AA - charged to income-tax as the income of that previous year in which such rent is...

10. Rental income from the property - income from other sources OR income from house property - By not recording construction expenses in books of account, the rights of...

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. 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...

13. Income from the house property shown by the assessee on letting out the property on rent to her husband - the assessee’s income from letting out the property is to be...

14. 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...

15. 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...