Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2010 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (12) TMI 658 - AT - Income TaxService charges received from tenants - Income from business or income from other sources - Held that:- ervice charges received by the assessee from its tenants in Express Towers for various services rendered by it were of the nature of business income and not income from other sources. Letting of house property to sister concern - value of advantage like notional interest on deposit does not form part of actual rent as contemplated by s. 23(1)(b). Long term and short term capital loss - Sale of shares to joint venture partner - genuineness of transaction - Held that:- the reasons given by the A.O. for doubting the genuineness of the transaction of shares which was duly supported by an agreement as well as approval of FIPB to the said agreement were not tenable - there is nothing to show that the market value of shares sold by the assessee at Rs.5.64 per share was actually more than the said price so as to draw any inference that the transaction of sale of the said shares was not genuine. - Decided in favor of assessee.
|