Home Highlights February 2014 Year 2014 This

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1. Lease rent - Business income OR income from house property - It is not a case that the assessee had to let out the hotel building for a temporary period due to some...

2. Renting of Immovable Property service - There is no liability of service tax in respect of property of ‘Hotel Chandela’ leased out for running, operating, etc. to IHCL AT

3. Incomes received from leasing out of hotels - exploitation of a commercial asset - lease rental received by the assessee is to be taxed under the head "Income from business" - AT

4. IT – the assesse, a lease holder, has exploited the lease rights in the property as an owner – rent is table as Income from house property

5. Nature of rental income - Income from house property or business income - acquiring and leasing properties - rental/licence fee received by the assessee in respect of...

6. Depreciation on hotel building given on lease – Licence fee receivable taxable as business income - depreciation allowed - HC

7. Income from house property V/S Profits and gains of business or profession - Just because TDS was made u/s. 194-I, it cannot be treated as ‘house property income’ as the...

8. Claim of Interest u/s.36(1)(iii) - security deposits paid to director’s wife for taking her bungalow on lease - The said property had been taken on lease by the assessee...

9. Revision u/s 263 by CIT - rental income which had been shown as “Income from Business & Profession” rather than showing the same as “Income from House Property” - once...

10. Rectification u/s 154 - Deduction claimed u/s. 80IAB - Wrong classification of income under the head ‘income from house property’, has resulted in wrong claim of...