Home Highlights February 2012 Year 2012 This

You may also like:

1. Depreciation on Hotel Building including the cost of land - hotel building complex was purchased at consolidated value - Merely because the parties have not specified...

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

3. Characterization of income - license fee received by the assessee for licensing a fully furnished hotel along with license to run the hotel is a business receipt, which...

4. Renting of buildings used for the purpose of accommodation including hotels, meaning thereby renting of a building for a hotel, is covered by the exclusionary clause and...

5. Entitlement for depreciation on Swimming pool @ 33.33% - building which is used as a hotel cannot be given depreciation as plant - HC

6. Disallowance of depreciation in respect of asset given on lease - the lessee has been given only right to use the asset for the terms of the lease on payment of...

7. 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...

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

9. The CESTAT held that a "deemed sale" under Article 366(29A)(d) of the Constitution had occurred when the appellant granted the right to use the brewery license to...

10. Admissibility of input tax credit - inward supply of services by way of License Fee Recovery (LFR) on leasing of pumps along with the equipment - The AAR concluded that...

11. Depreciation on Car - Assessee has not earned any revenue from hotel business - The assessee company is in existence under the Companies Act and it has to fulfill...

12. Nature of Lease Rent Received - Income from business or house property or other sources - Lease agreements - furnishing of floors of the building given on rent -...

13. Depreciation on license fee paid for 20 years - intangible asset - deferred revenue expenditure - benefit of depreciation on the registration fee of paid to Indian...

14. Allowance of depreciation - depreciation on toll road as building - ownership of the assets - depreciation allowed - AT

15. Valuation of imported goods - inclusion of licence fee in the invoice value - It can be seen that Rule 10 (1) (c) uses the words ‘as a condition of sale’. The...