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 July 2020 Year 2020 This

Income of lease rental earned from property along with ...


Lease Rental Income from Property with Workstations Classified as "Income from Other Sources" u/s 56(2)(iii) of Income Tax Act.

July 23, 2020

Case Laws     Income Tax     AT

Income of lease rental earned from property along with facilities - Income from Other sources - The workstation in the form of plant and machinery are inseparable from the building and for exploitation or use of the workstation, the use of the building is incidental. - where the letting was inseparable, section 56(2)(iii) was rightly invoked.

View Source

 


 

You may also like:

  1. Rental income from letting out of the factory building - Profits and gains of business or profession OR Income from Other Sources - the intention of the assessee was to...

  2. 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...

  3. Rent received - the rental income of the assessee from letting out building along with said amenities is a "composite rental income" assessable under the head "income...

  4. Nature of rental income - Income from house property or business income - acquiring and leasing properties - rental/licence fee received by the assessee in respect of...

  5. Correct head of income - rental income earned by the assessee - Tribunal recorded its unequivocal finding that the lease deed under consideration was composite one and...

  6. 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...

  7. Income received from letting of the premises - Mthough the Assessing Officer has discarded the claim of the assessee stating that it is a related party transaction, but...

  8. 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...

  9. Rental income from the property - income from other sources OR income from house property - By not recording construction expenses in books of account, the rights of...

  10. Income from Lease Rentals is taxable under “Income from business“ OR “Income from House Property“ - lease rental income arising from a complex commercial activity will...

  11. Income from other sources u/s 56 (2) (x) - purchased the property - difference between the valuation adopted by the district valuation officer and actual consideration -...

  12. Income from other sources u/s 56(2)(vii) - ancestral property transaction - property was already acquired on power of attorney from the original/legal owners - it is...

  13. Correct head of income - income from letting out of warehouses or property to lessees - in cases where the earning of the rental income is the exclusive or predominant...

  14. 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...

  15. Receipt of Gift from HUF - income from other sources - whether HUF comes under the term ‘group of relatives’ defined u/s 56(2)? - Held Yes - Receipt of Gift from HUF -...

 

Quick Updates:Latest Updates