[aaykarbhavan] License fee paid by ‘ITC Hotels’ for using courtyard of palace for its business was allowable as revenue exp.

 

License fee paid by 'ITC Hotels' for using courtyard of palace for its business was allowable as revenue exp.

August 8, 2014[2014] 47 taxmann.com 215 (Karnataka)

IT : Licence fee for using courtyard of a palace while running hotel in palace, is allowable revenue expenditure

IT : Income from foreign exchange fluctuations, insurance claim, interest in KEB deposits and sale of scrap could not be treated as profit and gains of an industrial undertaking under section 80-IA

IT : Question whether deduction under section 80HHD cannot be allowed on entire business as a whole but in respect of each eligible unit, was directed to be decided on disposal of pending SLP before Supreme Court

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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