Income from housing property or Income from business ::

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".

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Judgement posted by

CA.Saibaburao Nanduri

Chartered Accountant

I am a commerce graduarte of Andhra University. Studied at HINDU COLLEGE, Guntur. Became FCA and started Practice under the name and style of M/s SAIBABU RAO CO I became Chairman of CA Institute, Guntur Branch, during the year 2008-09 My post qualifications are: Information Systems Audit DISA (ICAI) ... Read more

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