https://www.taxtmi.com/caselaws?id=352520 The Tribunal upheld the taxability of lease rental income in M/s Ambience Hotels & Resorts Pvt. Ltd.'s (AHRPL) hands, dismissing the addition in Ambience Developers and Infrastructure Pvt. Ltd.'s (ADIPL) hands. It affirmed the application of Section 60 of the Income Tax Act, 1961, ruling that the income should be taxed in AHRPL's hands due to the right to manage and carry on business. The Tribunal rejected ADIPL's claim based on beneficial ownership principles and confirmed the disallowances under Section 14A in line with judicial precedents, ensuring proper taxation and disallowances based on exempt income receipt. en-us Mon, 20 Nov 2017 00:00:00 +0530 Sat, 16 Dec 2017 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352520 The Tribunal upheld the taxability of lease rental income in M/s Ambience Hotels & Resorts Pvt. Ltd.'s (AHRPL) hands, dismissing the addition in Ambience Developers and Infrastructure Pvt. Ltd.'s (ADIPL) hands. It affirmed the application of Section 60 of the Income Tax Act, 1961, ruling that the income should be taxed in AHRPL's hands due to the right to manage and carry on business. The Tribunal rejected ADIPL's claim based on beneficial ownership principles and confirmed the disallowances under Section 14A in line with judicial precedents, ensuring proper taxation and disallowances based on exempt income receipt. Case-Laws Income Tax Mon, 20 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352520