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Leave & License Fee assessable under Profits & Gains of Business
Case Law Details
- Case Name
- Tulsidas V. Patel Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All ITAT, ITAT Mumbai
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Tulsidas V. Patel Vs DCIT (ITAT Mumbai)
ITAT Mumbai held that the Leave & License Fee is assessable under the head “Profits & Gains of Business” and not under “Income from House Property”.
Facts- During the previous year, the control and management of affairs of the Appellant-Company continued to be with the receiver/administrator appointed by the Hon’ble Bombay High Court who also filed the return of income for the A.Y. 2012-13 on 14/12/2013, in his capacity as administrator/receiver, declaring total income of INR 2,09,82,760/. The Appellant only...
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