Treatment given to the rental income - assessee was not the ...

Rental Income by Non-Owner Assessee Classified as Business Income Based on Company's Objectives and Activity Interpretation.

January 20, 2018

Case Laws Income Tax AT

Treatment given to the rental income - assessee was not the owner of the premises - The objects of the company must also be kept in view to interpret the activities - Thus no hesitation to treat the rental income received by the assessee in the instant case as business income. - AT

View Source

← Previous Next →

Treatment given to the rental income - assessee was not the ...

Rental Income by Non-Owner Assessee Classified as Business Income Based on Company's Objectives and Activity Interpretation.

January 20, 2018

Case Laws Income Tax AT

You may also like:

Rental income correctly classified as "income from house property" rather than "income from business" despite composite rent including amenities charges. TDS deducted...

Revision u/s 263 - Classification of rental income - House property v/s business income - The Appellate Tribunal observed that the Assessee is primarily engaged in...

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...

Characterization of income - rental income earned by the assessee as income from the business - The parting of possession of godown, particularly in the circumstances of...

Nature of rental income - Income from House Property or Business income - Deemed owner - assessee was entitled to have access to operate, manage and maintain the...

Correct head of income - the major source of income for the assessee is rental income. The assessee obtained long-term lease of the property and sub-leased the same in a...

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 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...

Treatment to rental income - income from other sources - Since the income received by the assessee has been distributed amongst the co-owners of the property and the...

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...

Classification of rental income received by the assessee from the commercial complex - the rental income has to be bifurcated and 75% of the same has to be classified as...

ITAT upheld CIT(A)'s decision allowing deduction of Finance Lease Rental Payments under section 37(1) as revenue expenditure. Revenue's appeal challenging depreciation...

Treatment of rental income under house property - Disclosure of rental income received from the property by the assessee as business receipts and the assessee has...

Correct head of income - Lease rent received - to be treated as business income or as income from other sources - There was no attempt to exploit the commercial assets...

Rental income - Admittedly assessee was the owner of the building though it might not be the owner of the land. It is not essential that a person who owns a building...

Quick Updates: