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Does Assessment of license fee come under the head ‘Income from business or profession’?

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Court :
ITAT Chennai

Brief :
This appeal filed by the assessee is directed against the order of the Commissioner of Income Tax (Appeals)-1, Chennai, dated 30.07.2018 and pertains to assessment year 2014-15.

Citation :
ITA 3155/CHNY/2018

IN THE INCOME TAX APPELLATE TRIBUNAL
‘B’ BENCH, CHENNAI

BEFORE SHRI DUVVURU RL REDDY, JUDICIAL MEMBER AND
SHRI G. MANJUNATHA, ACCOUNTANT MEMBER

ITA No.: 3155/CHNY/2018
Assessment Year: 2014-15

M/s. Dodla International Ltd.,
4/54, Rainbow Kasturi III Main
Road, R.A. Puram,
Chennai – 600 028.
PAN: AABCD6591R
Appellant)

vs.

The ACIT,
Corporate Range-1 ,
Chennai.
Respondent)

Appellant by : Shri S. Sridhar, Advocate
Respondent by : Shri Suresh Periasamy, JCIT

Date of Hearing : 28.01.2021
Date of Pronouncement : 08.02.2021

O R D E R

Per G. MANJUNATHA, AM:

This appeal filed by the assessee is directed against the order of the Commissioner of Income Tax (Appeals)-1, Chennai, dated 30.07.2018 and pertains to assessment year 2014-15.

2. The assessee has raised the following grounds of appeal:-

1. The order of the Commissioner of Income Tax (Appeals) - 1, Chennai dated 30.07.2018 in l.T.A.No.545/CIT(A)-1/2016-17 for the above mentioned Assessment Year is contrary to law, facts, and in the circumstances of the case.

2. The CIT (Appeals) erred in sustaining the assessment of income earned under the Memorandum of Understanding executed on 11.08.2009 with M/s Orient Hotels Limited under the head ‘income from house property’ as against the reporting of such income under the head income from business’ in the computation of taxable total income without assigning proper reasons and justification.

To know more in details find the attachment file
 

 

Guest
on 23 February 2021
Published in Income Tax
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