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2014 (6) TMI 326 - AT - Income TaxTreatment of income - Receipt from property given on rent – Claim of expenses - Held that:- There is no evidence of any commercial activity carried on by the assessee - the company merely received rent in its capacity as owner of the property - it cannot be said that letting out would amount to commercial exploitation of the property - the income received by the assessee is assessable under the head “Property Income” – thus, there was no infirmity in the order passed by the CIT(A) with regard to treatment of the income - there is no other activity carried on by the assessee and no intention is shown by the assessee to carry on any business - the fresh claim does not deserve any favourable consideration – thus, the order of the CIT(A) is upheld – Decided against Assessee.
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