Case Law Details
Case Name : Woodland Associates Pvt. Ltd. Vs Income tax Officer (ITAT Mumbai)
Related Assessment Year : 2007-08
Courts :
All ITAT ITAT Mumbai
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Income from property let out to a director to be taxed as business income in the hands of the company
In the present case, the property had been let out to Snehal Jalan a share holder who is the daughter of the Director Ms. Rekha Jalan, who had 81.71% shareholding in the company. The Ld. AR for the assessee argued that since property had been let out to an individual, the same was not out of the purview of Rent Control Act as exclusion was available in case of property let out to banks or public sector undertakings or any corporation established by or under any state/central Act or foreign mis...
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Respected sir/madom
I have one property, rooftop of the same property let out to bharti airtel for installation of tower for monthly rent 35000/- p.m., please advise me to claim income in relevant head and also give related case law.
Thanks