When does rental income fall under the head "Profits and gains of business or profession"?
Last updated: 10 August 2021
Court :
Karnataka High Court
Brief :
The letting of the buildings is inseparable from the letting of the said machinery, plant or furniture, and the intention is to carry on the business of letting out the commercial property and carrying out complex commercial activity and getting rental income therefrom, then such a rental income falls under the heading of "Profits and gains of business or profession"
Citation :
Rao Computers Consultants (P.) Ltd. v. Deputy Commissioner of Income-tax (OSD), Circle 5(1)(1), Bangalore [2021] 128 taxmann.com 408 (Karnataka)
You have reached daily limit of 2 Free Judgements. To view this or other Judgements please subscribe to CCI PRO :
Stay updated! Stay ads free
Browse CAclubindia ads free.
Latest updates on WA.
Daily E-Newsletter and much more.
CCI PRO annual subscription :
Original Price : INR 2999/-
Offer Price : INR 1999/-
Duration : 1 year
(Prices Inclusive of GST)
Know More
Note: If you are a PRO member already, please click here to login (for ad free experience)
ANJANA MURALEEDHARAN
Published in Income Tax
Views : 172
Comments
Trending Online Classes
-
All Subjects Combo (Regular Batch) Jan & May 26
CA Hardik Manchanda,CS Arjun Chhabra & Prof. Akash Agrawal
CAclubindia
