Letting of shops without incidental services is IFHP [2015] 58 taxmann.com 12 (Delhi – Trib.)

IT : Where assessee having constructed commercial complex, let out shops to various parties, in view of fact that it was a case of renting simplicitor and services incidental to letting out did not constitute such complex character so as to render it as a business by itself, rental income in question was to be taxed as ‘income from house property’

IT : Where assessee, following mercantile system of accounting, debited certain amount in profit and loss account towards brand building expenditure, entire expenditure was to be allowed as deduction in relevant year itself when liability to pay crystallised irrespective of fact that a part of said amount related to profits of subsequent years

 

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