Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2011 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (11) TMI 754 - AT - Income TaxLicense fee in respect of composite letting activity carried on by the assessee are chargeable to tax under the head “income from house property” - Held that:- The ‘license fee’ from letting out activity is assessable under the head “income from house property” and not income from business. See M/s. Shambhu Investment [2003 (1) TMI 99 - SUPREME Court]. Computing the annual letting value (ALV) notional interest on the interest free deposits cannot be added - Held that:- This issue also stands covered in favour of the assessee by the decision of the Hon’ble High Court of Delhi (Full Bench) in the case of CIT vs. Monikumar Subba [2011 (3) TMI 497 - DELHI HIGH COURT]
|