Mis-declaration and Concealment: confiscation affirmed, transaction value re-determined and mandatory penalty sustained; redemption allowed on payment...
Receipt characterised as income from house property where transferee of infrastructure business stepped into transferor's position and continued licence payments; licence fees retained the character of rent arising from use of immovable property, so amounts already offered under Income from House Property cannot be subjected to a fresh addition. Assessing Officer must verify the assessee's computation and give effect to the appellate direction to ensure no double addition is made, treating the CNIL receipt as income from house property.
Receipt characterised as income from house property where transferee of infrastructure business stepped into transferor's position and continued licence payments; licence fees retained the character of rent arising from use of immovable property, so amounts already offered under Income from House Property cannot be subjected to a fresh addition. Assessing Officer must verify the assessee's computation and give effect to the appellate direction to ensure no double addition is made, treating the CNIL receipt as income from house property.
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