Rental income received by the appellant from sub-letting of the ...

Rental Income from Sub-Letting Taxed as Income from House Property Under Income Tax Act Sections 22, 56, 27(iiib.

January 14, 2020

Case Laws Income Tax AT

Rental income received by the appellant from sub-letting of the "Kantilal House" premises to Bank of Baroda - taxable either u/s.22 or u/s.56 - for the purpose of Sec. 27(iiib) r.w.s. 269UA(f)(i), the assessee was deemed owner of the property and therefore, the stated income was rightly brought to tax by revenue authorities as Income from House Property

View Source

← Previous Next →

Rental income received by the appellant from sub-letting of the ...

Rental Income from Sub-Letting Taxed as Income from House Property Under Income Tax Act Sections 22, 56, 27(iiib.

January 14, 2020

Case Laws Income Tax AT

You may also like:

The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

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...

The High Court examined various issues concerning the calculation of deduction u/s 80IC, eligibility for the deduction, disallowance of royalty payments, and treatment...

Correct head of income - The provisions of section 56 of the I.T.Act states that in case the property and equipment are let out and if the rent receivable are...

Correct head of income - income from letting out of warehouses or property to lessees - in cases where the earning of the rental income is the exclusive or predominant...

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...

The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

Income from house property - annual letting value of unsold flats - Estimating rental income by the AO for these three flats as income from house property was not...

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...

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...

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...

Income from house property - Income received on leasing of land and building - the assessee had correctly shown the said income under the head “income from house...

Two key issues: 1) Assessment of rental income received by co-owners as income of an Association of Persons (AOP), and 2) Treatment of income from letting out a plinth...

Quick Updates: