Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Correct head of income - Income from leasing or letting out the properties in shopping-cum-entertainment Mall - “income from business” or “income from house property” - After careful consideration, the High Court affirmed the decision of the CIT(A) and the ITAT that the income derived from leasing out properties in the mall should be categorized as "income from business." The Court noted that the assessee company's main object, as per its Memorandum of Article and Association, involved various business activities related to owning, leasing, and managing properties like multiplexes, cineplexes, and shopping malls. Therefore, the income from leasing out properties in the mall constituted income from business under Section 28 of the Income Tax Act.
Correct head of income - Income from leasing or letting out the properties in shopping-cum-entertainment Mall - “income from business” or “income from house property” - After careful consideration, the High Court affirmed the decision of the CIT(A) and the ITAT that the income derived from leasing out properties in the mall should be categorized as "income from business." The Court noted that the assessee company's main object, as per its Memorandum of Article and Association, involved various business activities related to owning, leasing, and managing properties like multiplexes, cineplexes, and shopping malls. Therefore, the income from leasing out properties in the mall constituted income from business under Section 28 of the Income Tax Act.
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