{"id":48796,"date":"2024-12-01T14:23:12","date_gmt":"2024-12-01T08:53:12","guid":{"rendered":"https:\/\/itatonline.org\/digest\/effective-teleservices-p-ltd-v-pcit-2024-206-itd-443-ahd-trib\/"},"modified":"2024-12-01T14:23:12","modified_gmt":"2024-12-01T08:53:12","slug":"effective-teleservices-p-ltd-v-pcit-2024-206-itd-443-ahd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/effective-teleservices-p-ltd-v-pcit-2024-206-itd-443-ahd-trib\/","title":{"rendered":"Effective Teleservices (P.) Ltd. v. PCIT (2024) 206 ITD 443 (Ahd) (Trib.)"},"content":{"rendered":"<p>Assessee is\u00a0 engaged in providing BPO services, IT enabled services and software consultancy service.\u00a0 Assessee had earned rental income from a property owned by it under head current assets and offered same to tax as income from house property which was accepted accordingly.\u00a0 Commissioner invoked revisionary jurisdiction on ground that rental income should have been treated as income from business. On appeal the Tribunal held that\u00a0 since assessee is not engaged in business of earning rental income, but is\u00a0 engaged in providing IT services, rental income earned by assessee on such house property would be chargeable to tax under head Income from house property and not as business income. Revision order is set aside. (AY. 2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner-Revision of orders prejudicial to revenue-Rental income from a property-Investment-Income from house property-Assessable as income from house property and not as business income-Revision order is set aside. [S. 23, 28(i), 23, 143(3)]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-48796","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cH2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=48796"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48796\/revisions"}],"predecessor-version":[{"id":48797,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/48796\/revisions\/48797"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=48796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=48796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=48796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}