Rental income - whether should be based on the earning of the ...

Court Rules Rental Income Taxation Based on Business Center Earnings Unlawful; Assessing Officer's Approach Rejected.

January 28, 2017

Case Laws Income Tax AT

Rental income - whether should be based on the earning of the APPL-company, which runs a business centre in the said premises and also other rentals from other tenants in it - This kind of half-backed attempt of AO in taxing the income of property is unsustainable in law - AT

View Source

← Previous Next →

Rental income - whether should be based on the earning of the ...

Court Rules Rental Income Taxation Based on Business Center Earnings Unlawful; Assessing Officer's Approach Rejected.

January 28, 2017

Case Laws Income Tax AT

You may also like:

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...

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...

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...

The assessee as per the development agreement got some flats from the developer and rented (let out) them to earn the rental income and the same rental income is being...

Rental income determination - assessee jointly owns 50% house property in Singapore with wife - offered 100% rental income for AY 2014-15 erroneously, rectified in...

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...

The case pertains to the correct head of income for rental income receipts, whether assessable under 'Income From House Property' or 'Income from Business'. The key...

Business Services Charges for providing Business Service Centre - income from house property or Business Income - AO directed to treat the income earned by the assessee...

Two key issues: 1) Assessment of rental income received by co-owners as income of an Association of Persons (AOP), and 2) Treatment of income from letting out a plinth...

Disallowance of prior period expenses pertaining to expenditure crystallized or details received after completion of earlier years' audits. Genuineness not doubted,...

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...

Revision u/s 263 - Classification of rental income - House property v/s business income - The Appellate Tribunal observed that the Assessee is primarily engaged in...

Co-operative Housing Society declared income from maintenance charges under 'Income from other sources' with deficit of Rs. 13,86,671/-. Rental and interest income also...

Correct Head of income - rental income from Operating Family Entertainment Center cum Mall and Maintenance Charges - Income from House Property or Profit and Gains from...

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...

Quick Updates: