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 March 2020 Year 2020 This

Income from house property - sharing of revenue between the ...


Court Rules Revenue-Sharing Agreement Not a Sham; Income Properly Declared by Individual and Co-Licensors.

March 16, 2020

Case Laws     Income Tax     AT

Income from house property - sharing of revenue between the assessee and 6 other co-licensors - sham transaction or not - the agreement dated 20/04/2009 could not be termed as sham agreement or an artificial structure with a view to evade tax liability. The said argument would be further weakened by the fact that proportionate income has already been offered to tax by the assessee as well as other 6 licensors. - AT

View Source

 


 

You may also like:

  1. Assessee followed joint venture model for sharing revenue with collaborators as per franchise agreement. Assessee recorded all revenues, incurred expenditure, and shared...

  2. Disallowance on account of Sham Agreement - Revenue sharing agreement entered with the holding company by the assessee is diversion of income by overriding title. The...

  3. CIRP proceedings - illegal transfer of IPR and business by the corporate debtor - the declaration of assignment of trademarks in the name of R1 is declared null and void...

  4. Profit sharing agreement - Diversion of income by overriding title or mere application of income - the assessee has been obligated by virtue of the agreement to divert...

  5. Sale of shares - share broker - Revenue condemned the share transaction of the assessee and held them to sham merely because some share brokers were found to be indulged...

  6. Addition u/s 56(2)(viib) - application of Rule 11UA - FMV of redeemable preference shares - sub-Rule (2) of Rule 11UA deals valuation in respect of unquoted equity...

  7. Correct head of income - treatment of income from sale and purchase of shares - business income or income from capital gains - high volume of transactions and frequently...

  8. Classification of services - Renting of Immovable Property Service - revenue sharing agreement - Agreement to run, conduct and operate the three hotels together - a...

  9. Sale of shares - Capital Gains or business income - it will not be appropriate to assess the income declared by the assessee from sale and purchase of shares as business...

  10. Rollback of an Advance Pricing Agreement - Income-tax (Third Amendment) Rules, 2015 - CBDT issues Notification

  11. Companies (Listing of equity shares in permissible jurisdictions) Rules, 2024 - Amendment in various rules.

  12. Valuation of gifted shares - Explanation to Rule 2(9) of Part A, Schedule III of the W.T. Act. The certificate from the concerned stock exchange is only to state whether...

  13. The ITAT allowed the assessee's appeal, holding that contributions made to the unrecognized provident fund and unapproved pension fund were eligible for deduction under...

  14. The High Court considered a case involving the nature of a receipt received by a company for relinquishing its right to operate a hotel under a license agreement. The...

  15. Legal dispute concerning the taxability of capital gains arising from the sale of shares by a Mauritian entity to an Indian company. The central issues revolve around...

 

Quick Updates:Latest Updates