[aaykarbhavan] Income from hoardings earned by Municipal Corporation is taxable u/s 56

Income from hoardings earned by Municipal Corporation is taxable u/s 56

April 3, 2014[2014] 43 taxmann.com 99 (Gujarat)

IT: Where assessee, a Municipal Corporation, granted licences for putting up hoardings in its property and private properties and charged licence fees to regulate such activities, income from hoardings was in nature of 'income from other sources' and, therefore, exempt under section 10(20)

 

Regards

Prarthana Jalan

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