Businessmen point of view is key to the determination of head of income
In the taxation of rental incomes the High Court of HP in (2023] 21 ITR-OL 624 (HP) held that the businessmen…
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Today's
Not filing return may trigger notice ......Read More
Yesterday's Issue of notice at email address not in use and one belonging to old CA ......Read More
Yesterday's Issue of notice at email address not in use and one belonging to old CA ......Read More
Letting out open land
The Tribunal in 27ITR (Trib)- OL 1 held that rent derived from open land would be assessable under the head other…
......Read MoreDo not forget to include notional value of vacant property in certain situations
The annual value of the properties if they are more than one which remain vacant throughout the previous year would…
......Read Morephysical and virtual shared spaces
In 249ITR47 the assessee had let out the tablespace to various persons with all furniture, fixtures, light, air conditioners. The…
......Read MoreAssessment of rental income in different scenarios
In 259ITR389 the assessee received besides rental income also received service charges and claimed even such as income assessable under…
......Read MoreTenancy Rights
The Ahmedabad Bench of the ITAT in the case of Vipinchandra V. Bavisi v. ACIT (108TAX249) held that amount received…
......Read MoreMesne Profits Are Taxable
Mesne profits are recompensed by the Court to the landlord for wrongful possession of his property by the tenant even…
......Read MoreInterest on Borrowed Capital- Unoccupied House
After 01.04.1995 even deduction for interest is available in respect of unoccupied (vacant) house. In other words such deduction is…
......Read MoreDisplay of Hoardings
The Calcutta High Court in the case of Mukherjee Estate ( P ) Ltd. v. CIT (113TAX313) held that putting…
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