Income from housing property or Income from business ::
Last updated: 07 October 2007
Court :
HC
Brief :
Held by the Hon`ble Bench that, neither the construction of hotel is completed nor the hotel business is commenced. Therefore rental income received by the assessee is not assessable under the head " Income from business".
Citation :
C.I.T. Vs. Hotel Ratanada International P. Ltd.
Income from housing property or Income from business
C.I.T. Vs. Hotel Ratanada International P. Ltd.
05/09/2007 [2007] 293 ITR 557 (Raj)
Case Fact:Whether, rental income received from hotel business which is not commenced is assessable under "Income from business"?
Decision:
Held by the Hon`ble Bench that, neither the construction of hotel is completed nor the hotel business is commenced. Therefore rental income received by the assessee is not assessable under the head " Income from business".
CA.Saibaburao Nanduri
Published in Income Tax
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