Correct head of income - Cash received as rental income - ...

Income Tax

April 28, 2023

Correct head of income - Cash received as rental income - assessee could not prove the existence of the persons against whom he has shown the cash receipt as rental income as those persons were not in existence and were not traceable - the learned CIT (A) while upholding the addition has also given a finding that since the assessee has already offered the rental income under the head income from house property as per remand report, the addition should be limited to the disallowance u/s 24(b) - Order of CIT(A) sustained - AT

View Source

← Previous Next →

Correct head of income - Cash received as rental income - ...

Income Tax

April 28, 2023

You may also like:

Unexplained cash deposits in bank - receipt of rental deposits in cash - The fact remains that the cash rental deposits have been received by the assessee which is not...

Warehousing rental charges - Nature of income – the rental charges received by the assessee are assessable under the head income from business and not under home property - HC

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

Rental income from unsold flats shown as stock-in-trade in the books - “ should not be assessed under the head “income from business” but under the head “income 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...

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...

Addition u/s 68 - evidences about the receipt of the cash and repayment of the cash despite those persons having proper bank account - whole explanation of the assessee...

Rental receipts from letting out commercial properties is assessable under the head income from profits & gains of business or profession and not as income from house property - AT

Addition u/s 56 - allotment of shares cannot be equated with receipt of shares - receipt of share there should be shares in existence and a person holding such share...

Mall upkeep and promotional fees received by the assessee - amount of maintenance charges received were business receipts assessable under the head 'business income'.... - HC

Quick Updates: