Income from Transferring Capital Asset can’t be deemed as 'Business Income' even if Assesse was regularly booking Flats and Selling the same: ITAT
The Income Tax Appellate Tribunal (Mumbai) has held that, Income from Capital Asset is ‘Capital Gain’and not business Income even if Assesse was...
![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]](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]")
![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...
Sale Consideration of Equity Shares held by assessee for 16 years is ‘Long Term Capital Gain’, Not ‘Business Income’: Allahabad HC
Recently, in CIT v. M/S Jindal Poly Films Ltd, the division bench of the Allahabad High Court held that income received on the sale of Equity shares held by assessee for about 16 years is ‘Long Term...
Govt Grants to Hyderabad Metro Rail Ltd is 'Business Income' of the Company: ITAT Hyderabad [Read Order]
In a recent ruling, the Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) allowed the appeal filed by the Hyderabad Metro Rail Ltd and held that the Govt Grants and interest on deposits etc....
![Govt Grants to Hyderabad Metro Rail Ltd is Business Income of the Company: ITAT Hyderabad [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Hyderabad-Metro-Rail-Ltd.jpg "Govt Grants to Hyderabad Metro Rail Ltd is Business Income of the Company: ITAT Hyderabad [Read Order]")
Consideration for Amenities Provided to Tenant cannot be treated as ‘Business Income’ if same is not separable from Rental Income: ITAT Bangalore
In M/s. Sree Seshachala Builders Ltd v. DCIT & Anr, the ITAT Bangalore held that the consideration for amenities provided to the tenant is “Income from House Property” if the same is not...
![Investment in the Excess Stock is Taxable as ‘Business Income’: ITAT Jaipur [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/03/Investment-Taxscan.jpg "Investment in the Excess Stock is Taxable as ‘Business Income’: ITAT Jaipur [Read Order]")