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1. 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...

2. Depreciation on lease assets given to Konkan Railway Corporation Ltd - the transaction in question is finance lease and not operating lease. - no depreciation on asset...

3. Income from leasing the hotel was income from business and not income from house property - AT

4. 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...

5. Leased rental received - Income from house property - During the first year of lease he has agreed to receive the 60% profit of the business as annual rental income but...

6. 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...

7. 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...

8. 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...

9. 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...

10. Depreciation on leased asset - Solar Generating System – Once, lease rentals are accepted by the revenue, there is no reason to disallow the depreciation - AT

11. Depreciation on leased assets - section 32 - Section 2(13) and Section 2(24) the income derived from leasing of the trucks would be business income - depreciaion allowed - HC

12. Sale and lease back transactions, no deduction of lease rental be allowed as sale of asset is paper transaction only – ITAT order reversed

13. Deduction of lease rentals for the equipment - lease rentals agreed between the parties were so crafted that they substantially cover present fair value of equipment -...

14. 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...

15. Income from lease rental by letting out machinery - merely because the lease period has expired, the character of the rental income does not change from ‘business...