Case Law Details
Case Name : M/s. Dutta Properties Vs I.T.O (ITAT Kolkata)
Related Assessment Year : 1999-2000 to 2005-06
Courts :
All ITAT ITAT Kolkata
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CA Kanhaiya Kumar Agarwal
Brief Facts of the Case and Question of Law:
Brief Facts
The assessee is a partnership firm vide partnership deed dated 01st April 1994. It was formed for carrying on business of ‘tea blending and packaging’ and also acting as business importer, exporter, supplier and commission agent. No significant activities were done in the assessee firm up to AY 1998-99, thus the firm gave space in its godowns on rent to various parties.
The original deed was amended vide supplementary partnership deed dated 01st April 1998, to carry on letting out of godown space on rental ...
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If commission given for letting out the property can be shown as deferred revenue expenditure, when rental income is business income