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Income Tax - Highlights / Catch Notes

Home Highlights February 2012 Year 2012 This

Depreciation on hotel building given on lease – Licence fee ...

Income Tax

February 28, 2012

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

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  7. 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

  8. Allowance of depreciation - depreciation on toll road as building - ownership of the assets - depreciation allowed - AT

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