SC to decide whether ITC's royalty payment for operating airport lounge constitutes 'rent'

May 04,2018

SC admits ITC Ltd.'s ('assessee') SLP against the Delhi HC judgment; HC had held that royalty payment made by assessee to the Airport Authority of India ('AAI') for use of lounge premises, constitutes 'rent' u/s. 194-I; HC had rejected assessee's stand that fees for use of space alone could be categorized as rent u/s 194-I, and not the 'royalty' component; HC had remarked that "The payment for the use of space is inseparable from the payment of royalty for the rig...

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