17 February 2016
Income from rent received from display of hoardings/advertisement at top of buildings has to be assessed under the head “income from other sources”
Mukherjee Estate P. Ltd. reported in 244 ITR 1 JMD Realtors (P.) Ltd. vs Deputy Commissioner of Income-tax (IT Appeal No. 5346 (Delhi) of 2011)
The contract for putting up a hoarding is in the nature of advertising contract and provisions of Sec. 194C would be applicable.
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