Keyaram Hotels (P.) Ltd. v. Dy. CIT

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The Tax Publishers2018 TaxPub(DT) 3264 (SC) Keyaram Hotels (P.) Ltd. v. Dy. CIT INCOME TAX ACT, 1961 --Appeal (Supreme Court)--Special leave petition Income from house property--Chargeability--Rental income from letting out commercial complex--Where the assessee preferred SLP to appeal against the judgment of the Madras High Court in Keyaram Hotels (P) Ltd. v. Dy. CIT [Tax Case (Appeals) Nos. 815 to 818 to 2014, dated 11-11-2014] : (2015) 228 Taxman 354 (Mad), whereby the High Court held that the assessee had given its premises for rent and did not engage in any business activity at all and there was no material placed by assessee to contradict this proposition that the transaction was only by way of exploitation of the property by the assessee and not by way of exploitation of a business assets, therefore, income received from letting out of the commercial property in this case was rightly assessed by AO as 'Income from house property', the Supreme Court dismissed the SLP.--Assessee preferred SLP to appeal against the judgment of the Madras High Court in Keyaram Hotels (P) Ltd. v. Dy. CIT [Tax Case (Appeals) Nos. 815 to 818 to 2014, dated 11-11-2014] : (2015) 228 Taxman 354 (Mad), whereby the High Court held that the assessee had given its premises for rent and did not engage in any business activity at all and there was no material placed by assessee to contradict this proposition that the transaction was only by way of exploitation of the property by the assessee and not by way of exploitation of a business assets, therefore, income received from letting out of the commercial property in this case was rightly assessed by AO as 'Income from house property'. *Held:* The Supreme Court dismissed the SLP. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2018 TaxPub(DT) 3264 (SC)

Keyaram Hotels (P.) Ltd. v. Dy. CIT

INCOME TAX ACT, 1961

--Appeal (Supreme Court)--Special leave petition Income from house property--Chargeability--Rental income from letting out commercial complex--Where the assessee preferred SLP to appeal against the judgment of the Madras High Court in Keyaram Hotels (P) Ltd. v. Dy. CIT [Tax Case (Appeals) Nos. 815 to 818 to 2014, dated 11-11-2014] : (2015) 228 Taxman 354 (Mad), whereby the High Court held that the assessee had given its premises for rent and did not engage in any business activity at all and there was no material placed by assessee to contradict this proposition that the transaction was only by way of exploitation of the property by the assessee and not by way of exploitation of a business assets, therefore, income received from letting out of the commercial property in this case was rightly assessed by AO as 'Income from house property', the Supreme Court dismissed the SLP.--Assessee preferred SLP to appeal against the judgment of the Madras High Court in Keyaram Hotels (P) Ltd. v. Dy. CIT [Tax Case (Appeals) Nos. 815 to 818 to 2014, dated 11-11-2014] : (2015) 228 Taxman 354 (Mad), whereby the High Court held that the assessee had given its premises for rent and did not engage in any business activity at all and there was no material placed by assessee to contradict this proposition that the transaction was only by way of exploitation of the property by the assessee and not by way of exploitation of a business assets, therefore, income received from letting out of the commercial property in this case was rightly assessed by AO as 'Income from house property'. Held: The Supreme Court dismissed the SLP.