IT : Where assessee was not engaged in any business activity, rental income earned from letting out commercial complex would be assessed as income from house property and not as business income
■■■
[2014] 52 taxmann.com 469 (Madras)
HIGH COURT OF MADRAS
Keyaram Hotels (P.) Ltd.
v.
Deputy Commissioner of Income-tax,Company Circle II (4), Chennai*
R. SUDHAKAR AND R. KARUPPIAH, JJ.
TAX CASE (APPEAL) NOS. 815 TO 818 OF 2014 & CONNECTED M. PS.†
NOVEMBER 11, 2014
Section 22, read with section 28(i), of the Income-tax Act, 1961 - Income from house property - Chargeable as (Business income v. Property income) - Assessment years 2004-05, 2005-06, 2007-08 and 2008-09 - Whether where assessee was not engaged in any business activity, rental income earned from letting out commercial complex would be assessed as income from house property and not as business income - Held, yes [Para 13] [In favour of revenue]
■■■
[2014] 52 taxmann.com 469 (Madras)
HIGH COURT OF MADRAS
Keyaram Hotels (P.) Ltd.
v.
Deputy Commissioner of Income-tax,Company Circle II (4), Chennai*
R. SUDHAKAR AND R. KARUPPIAH, JJ.
TAX CASE (APPEAL) NOS. 815 TO 818 OF 2014 & CONNECTED M. PS.†
NOVEMBER 11, 2014
Section 22, read with section 28(i), of the Income-tax Act, 1961 - Income from house property - Chargeable as (Business income v. Property income) - Assessment years 2004-05, 2005-06, 2007-08 and 2008-09 - Whether where assessee was not engaged in any business activity, rental income earned from letting out commercial complex would be assessed as income from house property and not as business income - Held, yes [Para 13] [In favour of revenue]
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