Tag: Business or House Property income
Income earned from property if business income or income from house property primarily depends upon the objects / main business of the assessee – ITAT In a recent judgment, the Hon’ble ITAT has set aside revisionary order u/s 263 and held that Assessing Officer was not justified in …
Accepting rental income from commercial complex as business income instead of house property was erroneous and prejudicial to the interest of Revenue- ITAT ABCAUS Neutral Case Law Citation:ABCAUS 3684 (2023) (03) ITAT In the instant case, the assessee had challenged the revisionary order passed by the PCIT u/s …
Receipts for carrying out warehouse operations as per the terms of agreement was not rental income but were business receipts ABCAUS Case Law CitationABCAUS 3572 (2022) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition by adopting …
Rent of shops let out in shopping Mall if business income or income from house property – SC dismissed Revenue’s SLP ABCAUS Case Law CitationABCAUS 3407 (2020) (10) SC Important case law relied upon by the parties:Raj Dadarkar & Associates v. Assistant Commissioner of Income-taxPrincipal Commissioner of Income …
Facility service charges apart from house rent taxable as business income. Amount received was for specific services like housekeeping, security, etc. ABCAUS Case Law Citation: ABCAUS 2900 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Kavita Marketing Pvt. Ltd. vs. ITO (159 ITD 547)/70 taxmann.com …
Business or House Property income-Onus was on assessee to show that out of income or substantial income was from letting out of the property being principal business activity – SC ABCAUS Case Law Citation:ABCAUS 1249 (2017) (05) SC Important Case Laws Cited relied upon:Chennai Properties and Investments Limited …
House Property Rent or Business Income-Activity not ownership is decisive. ITAT Chennai, following Supreme Court Judgment upheld bifurcation of rent received from commercial complex into rent and business income. Case Law Details: ITA No.402/Mds/2013 Assessment Year : 2003-04 DCIT vs. M/s Keyaram Hotel Pvt. Ltd ITA Nos.2215 & 2216/Mds/2015 Assessment …
