Addition on account of rent free accommodation provided to the ...

Court Rules Rent-Free Housing for Part-Time Director Must Follow Municipal Guidelines, Not Past Rent Values, Under Sec 28(iv).

June 7, 2017

Case Laws Income Tax AT

Addition on account of rent free accommodation provided to the assessee which was valued u/s. 28(iv) - part-time director in the company - the value of rent free accommodation determined by the AO on the rent fetched by the property in the earlier years cannot applied - to be determine as per the guidelines of Municipal Corporation - AT

View Source

← Previous Next →

Addition on account of rent free accommodation provided to the ...

Court Rules Rent-Free Housing for Part-Time Director Must Follow Municipal Guidelines, Not Past Rent Values, Under Sec 28(iv).

June 7, 2017

Case Laws Income Tax AT

You may also like:

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

Income from house property - Estimation of notional rent - We fail to understand as to why the CIT(A) has chosen again to exhibit his scant regard to the judicial...

Income from house property - it is quite clear that the Municipal Ratable Value of the property is lower than the actual rent received by the assessee and in fact the...

Classification of services - Fee from parks - Market fee-daily - Market fee-weekly - Fees for bays in bus stand (bus stand entrance fee collection) - Bus -stand...

Section 43D and Rule 6EB form a comprehensive code for deduction on account of non-performing assets (NPAs), distinct from NHB guidelines classifying NPAs. The court...

The case pertains to the levy of service tax under the reverse charge mechanism (RCM) on rental payments made by a company to its directors for renting immovable...

Income from house property u/s 23 - deemed rental income - estimating the fair market rent - it is a settled proposition that , the places where Rent Control Act is not...

Income from house property - notional interest on interest free deposits and advance rent - if the rent received or receivable is more than the municipal value then the...

Provision for remuneration of whole time directors – Enhanced directors remuneration – claim of assessee was allowable - AT

The adjudicating authority is bound to explain the alleged contraventions to the person proceeded against or their legal representatives. Rule 4(4) mandates...

The High Court held that the value of free diesel supplied by the service recipient to the Goods Transport Agency (GTA) service provider cannot be included in the...

Liability of Independent Director who was retired before the date of offence - the petitioner as seen from the documents was an Additional Director on the date the board...

The Supreme Court examined the validity of a guideline issued by the Institute of Chartered Accountants of India (ICAI) imposing a numerical restriction on the maximum...

SEBI has clarified that under Regulation 6(1) of the LODR Regulations, the term "one level below the board of directors" refers to the Compliance Officer's position...

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...

Quick Updates: