Home Highlights November 2011 Year 2011 This

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1. Characterization of income - license fee received by the assessee for licensing a fully furnished hotel along with license to run the hotel is a business receipt, which...

2. Correct head of income - letting out of Hotel/Resort as running business - treatment of revenue receipts from operation of Hotel/Resort - Contract for managing the...

3. Income from leasing the hotel was income from business and not income from house property - AT

4. 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...

5. Rental income from the property - income from other sources OR income from house property - By not recording construction expenses in books of account, the rights of...

6. Nature of expenditure - expenses towards fees to HUDA - revenue or capital expenditure - only to lease out a part of the area in which the hospital is run, for running a...

7. Income from license fees - income under the head ‘Income from other sources’ OR 'business income' - AT

8. Chargeability of notional interest on deposits under Income from House Property - ALV determination - CIT(A) has rightly concluded that estimation of ALV on the basis of...

9. Correct head of income - Characterization of income - rental income as 'business income' or 'income from house property' - there is no doubt that assessee has object of...

10. Nature of income - income from renting a properties in Mall - Income from house property or busniss income - the income from renting a properties in Mall to be taxed as...

11. 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...

12. 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

13. 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...

14. Correct head of income - Income from leasing or letting out the properties in shopping-cum-entertainment Mall - “income from business” or “income from house property” -...

15. TP adjustment in respect of management fee - When the TPO alleges that the assessee has not received any of the above services, it would indicate that the very...