Allowing the appeal of the assessee the Court held that ; License fee to operate hotel for a specified period was held to be assessable as inform from business and not as income from house property . (AY. 2005-06)
Palmshore Hotels (P.) Ltd. v. CIT (A)( 2018) 252 Taxman 191 (Ker.)(HC) Editorial: Order in Palmshore Hotels (P.) Ltd. v. CIT ( 2012) 28 taxmann.com 156 ( Cochin) (Trib) is reversed
S. 28(i) : Business income – Income from house property- License fee to operate hotel for a specified period was held to be assessable as inform from business and not as income from house property [ S. 22 ]