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Hoarding charges for advertisement on boundary walls is House Property Income
Case Law Details
- Case Name
- Chaitanya Developers Vs Addl. CIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Mumbai
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Chaitanya Developers Vs Addl. CIT (ITAT Mumbai)
In the given case the assessee is a partnership firm engaged in the business of builders and developers. During the course of assessment proceedings the Assessing Officer (AO) observed that the assessee had received hoarding charges of Rs. 41,80,000/- from M/s Dezen Products for advertising display on boundary walls and the same was offered for taxation under the head “Income from House Property”. In response to a query raised by the AO to explain as to why the receipts on account of advertising display charges should not b...
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