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2014 (3) TMI 579 - HC - Income TaxNature of Income - Income from letting out – Business income or Income from property u/s 11 of the Act –Held that:- The Tribunal itself has pointed out that the question as to whether the assessee was earning this income as incidental to the objects of the Society for the purpose of determining this case and in the event of the Assessing Officer was to hold the view that it is incidental to the object of the assessee, the consequence flowing thereon would be in terms of the order of the Commissioner as the Commissioner of Income Tax (Appeals) himself has felt that this is an income from house property – the order of the Tribunal is confirmed for remanding the matter back to the AO for fresh adjudication - the AO shall consider the nature of receipts keeping in mind the objects of the institution to find out as to whether the income earned is incidental to the objects of the association and hence income from the house property or whether the income could only be treated as a separate business carried on by the assessee – Decided against Assessee.
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