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Rental income from letting out factory premises of discontinued business is taxable as income from other source
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Corporate Tax
Rental income from letting out factory premises of discontinued business is taxable as income from other source
Posted on
on
August 26, 2017
Tenet Tax Daily August 25 2017
By
tenettax-team
Corporate Tax
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ITAT wasn’t competent to make addition under different section if it wasn’t subject matter of appeal
In absence of any positive and substantive material to effect that services had been rendered by employees of branch office of assessee, royalty income earned by assessee on account of technical agreement with another company was not effectively connected with branch office of assessee, and therefore, same was chargeable to tax as ‘royalty’ income as per article 13(1) and (2) of India-Italy DTAA
