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Revenue from operation of hotel/resort taxable under the head “Business income”
Case Law Details
- Case Name
- Coronet Hotel Services & Suppliers Pvt. Ltd. Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Delhi
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Coronet Hotel Services & Suppliers Pvt. Ltd. Vs DCIT (ITAT Delhi)
ITAT Delhi held that revenue receipt generated from the operation of “Hotel/ Resort” is taxable under the head “Business income” and not under “House Property” as fixed amount was not received in fact revenue was generated on fluctuation basis.
Facts- The Assessee declared the revenue receipts generated from operations of “Hotel/Resort” as “rental income”. Subsequently the Assessee by revising it return of income offered the ‘revenue receipts’ from the operation of “Hotel” under the head “Busine...
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