Wednesday, June 10, 2020

Rental income from land can’t be held as house property income if lessee never used bungalow consisted on it

INCOME TAX : Where assessee incurred necessary expenses to keep its business set up in existence during lull period in market, same were to be allowed

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000193993/rental-income-from-land-can’t-be-held-as-house-property-income-if-lessee-never-used-bungalow-consisted-on-it.aspx

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...