Reopening of Assessment - Inclusion of Rental income – ...

Revenue's Appeal Dismissed in 50-Year Case on Rental and Notional Income from Property Sub-Letting and Self-Occupancy.

February 17, 2014

Case Laws Income Tax AT

Reopening of Assessment - Inclusion of Rental income – Sub-letting of property - Assessability of notional income on account of self-occupancy - The dispute has a long and chequered history spanning over half a century - revenue appeal dismissed - AT

View Source

← Previous Next →

Reopening of Assessment - Inclusion of Rental income – ...

Revenue's Appeal Dismissed in 50-Year Case on Rental and Notional Income from Property Sub-Letting and Self-Occupancy.

February 17, 2014

Case Laws Income Tax AT

You may also like:

The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

Income from house property - notional rental income - no efforts were made by the Assessing Officer to determine the monthly rental/rate at which the Leased Property...

Correct head of income - income from letting out of warehouses or property to lessees - in cases where the earning of the rental income is the exclusive or predominant...

Income from house property - deemed rental income - notional annual value (NAV) u/s 23(1)(a) - without allowing a reasonable period or time gap from the completion of...

Correct head of income - taxability of rental income - the assessee is owner and thereby receives any income from house property, it should be taxed under the head...

Notional rental income on commercial property u/s 23(1)(a) - notional rental income on unsold stock u/s 23(1)(a) - There being impossibility of renting out the property,...

Rental income earned by assessee should be assessed as income from house property, not business income. AO failed to highlight aspects indicating rental income was...

Rental income determination - assessee jointly owns 50% house property in Singapore with wife - offered 100% rental income for AY 2014-15 erroneously, rectified in...

Valuation of Rental Income - GST - Deduction of property taxes and other statutory levies - treatment of notional interest on the security deposit - All taxes levied...

The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

Nature of income earned by the assessee from letting out of property - undoubtedly the main objects of the assessee company provides to carrying on the business of...

Income from house property - deduction (Vacancy allowance) - Notably the words used in section 23(1)(c) of the Act are “the property is let and was vacant during the...

Rental income of letting out property simplicitor was chargeable to tax under the head income from house property and not as business income irrespective of the fact...

The assessment years beyond six years but not exceeding ten years can be reopened u/s 153A only if the Assessing Officer possesses evidence depicting escapement of...

Addition on account of house rent - Income from house property - The AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1...

Quick Updates: