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2012 (8) TMI 327 - AT - Income TaxIncome from license fees - income under the head 'Income from other sources' OR 'business income' - Held that:- As premises was taken on license by the assessee along with other licensor in the property, sub-licensed to M/s. Mid-day Publications Pvt. Ltd., came up for adjudication before the Tribunal assessment year 2005-06 where it was directed that the license fees should be taxed for the full year at Rs.18.97 lakhs and not for the period of three months held to be considered as business income - In the absence of any distinguishing features in the facts of the present assessee and the other licensor in the same property, respectfully following the precedent direction to tax the license fees for the entire year at Rs.18.97 lakhs as business income. Assessment of income as ‘Income from house property’ - Held that:- As the assessee had filed a copy of the Occupation Certificate received from Municipal Corporation & contended that the he was allowed possession of the premises much after the close of the financial year. Since this Certificate from Municipal Corporation came into existence after the passing of the assessment order and it will be just and fair if the impugned order on this issue is set aside and the matter is restored to the file of AO.
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