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 December 2023 Year 2023 This

Taxability of Rental income earned from lease of building - AO ...

Case Laws     Income Tax

December 21, 2023

Taxability of Rental income earned from lease of building - AO and CIT(A) treated the rental receipts as income from business or profession and also directed to grant deprecation on the building - claim of deduction u/s 24(a) not allowed - AT

View Source

 


 

You may also like:

  1. 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...

  2. Correct head of income - nature of receipt from lease/ rent - the assessee employed commercial assets to earn income. Unless and until the income is treated as business...

  3. 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...

  4. 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...

  5. 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...

  6. 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...

  7. 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...

  8. 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...

  9. Correct head of income - Lease rent received - to be treated as business income or as income from other sources - There was no attempt to exploit the commercial assets...

  10. 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...

  11. Applicability of provisions of section 28(vi)(a) - conversion of the unsold inventory into fixed asset - merely because some of the built-up area was leased out for...

  12. Treatment of ‘rental income’ as ‘income from other sources’ - receipts from its factory building - Whether there existed ‘leave and licence’ agreement and not ‘rental...

  13. Income earned from letting out of commercial spaces, amenities and maintenance - rental income received from leasing out of the building properties would fall under the...

  14. Deduction of expenditure from income taxable under the head "From Other Sources" - Car Lease rental income - A plain reading of section 57 (iii) of the Act would lead...

  15. 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...

 

Quick Updates:Latest Updates