Accounting for lease rentals
Querist : Anonymous
refer:
Chennai Finance Co. Ltd. 81 ITD 7 (Hyd.
Amarpali Mercantile (Private) Ltd. vs. ACIT 45 ITD 386 (Del
Delhi High Court in Cyber Media (India) Ltd vs CIT [ 2011] 338 ITR 177
Mumbai Tribunal decision DCIT vs Stup Consultants (P) Ltd. No. 5617/Mum/2009, ITA No. 6062/Mum/2009, ITA No. 6063/Mum/2009
With regards to second question, it shall be treated as business receipts as it is a commercial property.
Each treatment has its own merits and demerits.
https://incometaxindiapr.gov.in/incometaxindiacr/contents/DTL2011/casesec22.htm
Querist : Anonymous
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