![Interest Income from Nationalized Banks is Business Income, Eligible for 80-P Deduction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/11/Business-Income-Taxscan.jpg "Interest Income from Nationalized Banks is Business Income, Eligible for 80-P Deduction: ITAT [Read Order]")
Interest Income from Nationalized Banks is Business Income, Eligible for 80-P Deduction: ITAT [Read Order]
Kolkata bench of Income Tax Appellate Tribunal (ITAT) has recently held that interest income earned from nationalized banks shall be treated as...
![Income from Interest Received Temporarily Parked in the Banks and given as Unsecured Loan is Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Interest-Rates-on-Small-Saving-Schemes.jpg "Income from Interest Received Temporarily Parked in the Banks and given as Unsecured Loan is Business Income: ITAT [Read Order]")
![Income from Licensing a Property is a Business Income: Kerala HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/11/Hotel-Taxscan.jpg "Income from Licensing a Property is a Business Income: Kerala HC [Read Judgment]")
![Non-Speculative Business Loss can be set off against Business Income of Assessee: Allahabad HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/11/Business-Loss-Taxscan.jpg "Non-Speculative Business Loss can be set off against Business Income of Assessee: Allahabad HC [Read Judgment]")
Expenses in respect of Service Tax paid out of Rental Income is deductible from the Business Income: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) recently ruled that the expenses in respect of service tax paid out of rental income is deductible under the head ‘Profit and Gains of Business or profession’...
![Expenses in respect of Service Tax paid out of Rental Income is deductible from the Business Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Rental-Income-Taxscan.jpg "Expenses in respect of Service Tax paid out of Rental Income is deductible from the Business Income: ITAT [Read Order]")
License Fee from Lease of Retail Space in the Shopping Mall is Taxable as ‘Income from House Property’: ITAT Delhi [Read Order]
The ITAT, Delhi, in a recent ruling, held that license fee from lease of retail space in the shopping mall is assessable under the head “income from house property” under the provisions of the Income...
![License Fee from Lease of Retail Space in the Shopping Mall is Taxable as ‘Income from House Property’: ITAT Delhi [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/10/License-Fee-Taxscan-1.jpg "License Fee from Lease of Retail Space in the Shopping Mall is Taxable as ‘Income from House Property’: ITAT Delhi [Read Order]")
Transport & Hostel Facilities surplus cannot be considered as Business Income of the Society if the same was an integral part of Its objects: ITAT
The ITAT Delhi, in a recent ruling, held that the transport & hostel facilities surplus cannot be considered as business income of the society if the same was an integral part of its objects....
Consideration Received by the Land Owner as per Joint Development Agreement is “Business Income”: Orissa HC [Read Judgment]
A division bench of the Orissa High Court recently ruled that the consideration received by the land owner as per the joint development agreement is “business income” when the land is treated as...
![Consideration Received by the Land Owner as per Joint Development Agreement is “Business Income”: Orissa HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/02/Orissa-High-Court.jpg "Consideration Received by the Land Owner as per Joint Development Agreement is “Business Income”: Orissa HC [Read Judgment]")
Rental Income and Service Charges from Leasing Out Malls/Commercial Complex constitute ‘Business Income’: Bombay HC [Read Order]
In CIT Mumbai v. M/s.E-City Project Construction Pvt. Ltd, division bench of the Bombay High Court held that rental income and service charges received by the assesse from leasing out malls/commercial...
![Rental Income and Service Charges from Leasing Out Malls/Commercial Complex constitute ‘Business Income’: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/07/Malls-Rental-Income.jpg "Rental Income and Service Charges from Leasing Out Malls/Commercial Complex constitute ‘Business Income’: Bombay HC [Read Order]")
Treatment of Income by the Dept for Past Years cannot be the Sole Basis of Addition: Jammu & Kashmir HC [Read Judgment]
While remitting a matter back to the files of the Appellate Tribunal, the Jammu and Kashmir High Court held that the department cannot treat the income from share transaction as Assessee’s “Business...
![Treatment of Income by the Dept for Past Years cannot be the Sole Basis of Addition: Jammu & Kashmir HC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/07/Jammu-Kashmir-High-Court.jpg "Treatment of Income by the Dept for Past Years cannot be the Sole Basis of Addition: Jammu & Kashmir HC [Read Judgment]")
Rent-Free Accommodation Received by a Part Time-Director cum Employee from the Company is Not ‘Business Income’: ITAT Kolkata
In ITO v. Raghu Nandan Modi, the ITAT Kolkata held that rent-Free accommodation received by a Part Time-Director cum Employee from the Company cannot be taxable as “Business Income” under the...
