Mesne profits and interest from unauthorized occupation are taxable u/s 23(1), says Tax Appellate Tribunal.

Mesne profits and interest from unauthorized occupation are taxable u/s 23(1), says Tax Appellate Tribunal. https://www.taxtmi.com/highlights?id=55412 Rental income or otherwise - mesne profit - TAT was right in holding that mesne profits and interest on mesne profits received under the direction of the Civil Court for unauthorised occupation of the immovable property of the assessee by Indian Overseas Bank-the erstwhile tenant of the appellant, was liable to tax u/s 23(1) of the Act, since mesne profits, and interest on mesne profits, in the facts of the present case constitute revenue receipt. - HC en-us Thu, 05 Nov 2020 16:48:06 +0530 Thu, 05 Nov 2020 16:48:06 +0530 TaxTMI RSS Generator Mesne profits and interest from unauthorized occupation are taxable u/s 23(1), says Tax Appellate Tribunal. https://www.taxtmi.com/highlights?id=55412 Rental income or otherwise - mesne profit - TAT was right in holding that mesne profits and interest on mesne profits received under the direction of the Civil Court for unauthorised occupation of the immovable property of the assessee by Indian Overseas Bank-the erstwhile tenant of the appellant, was liable to tax u/s 23(1) of the Act, since mesne profits, and interest on mesne profits, in the facts of the present case constitute revenue receipt. - HC Highlights Income Tax Thu, 05 Nov 2020 16:48:06 +0530 https://www.taxtmi.com/highlights?id=55412