Correct head of income - lease rent received by the assessee - ...

Lease Rent Income From Joint Venture Classified as Business Profits, Not Other Sources, Per Rehabilitation Scheme.

July 10, 2020

Case Laws Income Tax AT

Correct head of income - lease rent received by the assessee - Business of assessee taken over by the another Company as was running as JV - assessed under the head `income from business’ or `income from other sources’ - rehabilitation scheme - the income should fall under the head ‘profits and gains of business’ and not from ‘income from other sources’.

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Correct head of income - lease rent received by the assessee - ...

Lease Rent Income From Joint Venture Classified as Business Profits, Not Other Sources, Per Rehabilitation Scheme.

July 10, 2020

Case Laws Income Tax AT

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