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Income Tax - Highlights / Catch Notes

Home Highlights April 2015 Year 2015 This

Treatment of rental income by giving counters/spaces/shops in ...

Income Tax

April 23, 2015

Treatment of rental income by giving counters/spaces/shops in Retail Mall - property was shown as “capital work in progress” and not as “stock in trade” - Taxable as income from House property - AT

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  2. All the capital goods were used in the shopping mall to facilitate the shop owners for operation of the mall, who have been given the shops on rent by the appellant....

  3. Correct Head of income - rental income from Operating Family Entertainment Center cum Mall and Maintenance Charges - Income from House Property or Profit and Gains from...

  4. Taxability of rental receipt - developing the shopping mall and let out the same by providing a variety of services, facilities and amenities in the mall is not just...

  5. Demand of Service tax - out of total income parking of Rs. 3,88,45,204/- an amount of Rs. 9,63,645/- only pertains to the monthly parking income in respect of parking...

  6. Claim of interest expenditure - during earlier years interest was capitalized as work in progress towards acquisition of property - later transaction could not...

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  8. 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” -...

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