Correct head of income - Lease rent received - to be treated as ...

Income Tax

November 18, 2021

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 of the company and instead the assessee merely renewed rental arrangement and received rent as a passive receipt. - the rental income received by the assessee from ATL ought to be treated as income under the head “income from other sources”. - HC

View Source

← Previous Next →

Correct head of income - Lease rent received - to be treated as ...

Income Tax

November 18, 2021

You may also like:

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...

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...

Correct head of income - taxability of rental income - the assessee is owner and thereby receives any income from house property, it should be taxed under the head...

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...

Correct head of income - interest received under Section 28 of the Land Acquisition Act, 1894 - part take the character of the compensation and would fall under the head...

Rectification u/s 154 - Deduction claimed u/s. 80IAB - Wrong classification of income under the head ‘income from house property’, has resulted in wrong claim of...

Incomes received from leasing out of hotels - exploitation of a commercial asset - lease rental received by the assessee is to be taxed under the head "Income from business" - AT

Correct head of income - Income from leasing or letting out the properties in shopping-cum-entertainment Mall - “income from business” or “income from house property” -...

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...

Correct head of income - lease income received by the assessee - the income earned by the assessee by constructing the shopping mall and letting out the same by...

Income from license fees - income under the head ‘Income from other sources’ OR 'business income' - AT

Correct head of taxability of interest income - business income or income from other sources - the assessee firm had availed overdraft facility from the bank against the...

Reopening of assessment - Correct head of income - LTCG or business income - disallowing indexation on cost of acquisition and treating LTCG as business income -...

Interest income - Correct head of income - income from other sources OR income from business - if interest income earned by the assessee is not incidental to the...

Claim of expenditure against interest Income - Since, we hold in principle that the expenditure is allowable either way u/s 57, if the income is treated under the head...

Quick Updates: