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2014 (4) TMI 1218 - AT - Income TaxRental income - nature of income - to be treated as Business income or income from house property - whether depreciation should be allowed - Held that:- Assessee is engaged in the business of Services, leasing and business Centre facilities, Maintenance & Running of Guest House - thus income of the assessee should be assessed under the head income from business and it should be allowed expenses incurred by it in carrying out its business - Depreciation claimed by the assessee has also been allowed by the Tribunal - FAA has granted relief to the assessee,in pursuance of the orders of the Tribunal - hence respectfully following the orders of the Tribunal for earlier years and confirming the order of the FAA,we decide effective ground of appeal against the AO - Decided in favor of assessee.
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