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2013 (8) TMI 402 - ITAT MUMBAIIncome from house property or business income - Property let out on lease - Held that:- income realized by the owner by way of rental income from a building, whether commercial building or residential, is assessable under the head income from house property. Therefore, to the extent of leave and license amounts received by the assessee by letting out the commercial building is concerned, the CIT(A) has correctly analysed and came to a conclusion that the income is assessable under the head income from House Property - Following decision of Shambhu Investment Pvt. Ltd. vs. CIT [2003 (1) TMI 99 - SUPREME Court] - Decided in favour of assessee.
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