period of 60
years under the Lease Deed(s) is rent within the meaning of section
194-I of the Income ... rent is a consideration paid
by a tenant to the land lord in respect of a property or asset taken on
rent. The rent
period
of 60 years under the Lease Deed(s) is rent within the meaning of section 194-I of the
Income ... rent is a consideration
paid by a tenant to the land lord in respect of a property or asset taken on rent.
The rent
Singapore Airlines Ltd. (2013) 358 ITR 257 (Mad), wherein
the meaning of rent was explained and it was held that the same must be
understood ... payment of rent. In
order to understanding the meaning of 'rent', we need to look at the Explanation
(i) under section
exceed the standard rent in areas where rent control legislation is in force applies in a case where the standard rent in respect ... interpreted as meaning, the rent contracted for, or the rent to be paid in accordance with an agreement or the rent required to be paid
made on the
'rent'. The expression 'rent' is given much wider meaning under this provision than what
is normally known ... rent as defined in the provision has a
wider meaning than 'rent' in common parlance. It includes any agreement or
arrangement
learned AR of the assessee is that the
meaning of the word "rent" cannot be given such wide meaning to
include every type ... CBDT but we do notice that while
interpreting the meaning of the word "rent" in the case of payment
of hotel in Circular
compensation' paid therefor was not 'rent' within the meaning of that clause. Since the property was neither let out nor any rent ... representing the arrears of enhanced compensation was not rent within the meaning of Clause (b) of Sub-section (1) of Section 23 and was only
annual rent received or receivable. The word "rent" is not defined under the Income-tax Act . The dictionary meaning of the "rent ... issue before us is as to what is the meaning of the rent received or receivable. The determination of value under Section
been incorporated in lieu of old explanation(i) defining the
meaning of 'Rent' It was also stated that TDS was applicable whether ... other property are not
payments in the nature of rent within the meaning of section
194-I of the Act. Therefore, such payments
transmission charges draw its colour
from the basic meaning of the expression "rent". It is seen from the decision ... Supreme Court in Singapore Airlines (supra) that the meaning of "rent" must be
understood in the context in which they are used
