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2018 (8) TMI 1622 - ITAT CHENNAITreatment to rental income - business income or income from house property - intention of the parties while entering into the lease - Held that:- What is to be looked into is intention of the parties while entering into the lease. Admittedly, the agreements entered by the assessee with the lessees were contemporaneous. Objects of the lease was to allow enjoyment of the entire property with all services related to its use as technology centers. The income of the assessee both from leasing the space as well as providing maintenance services had to be considered only under the head income from business. Assessing Officer fell in error in treating such amounts under the head income from house property. Ld. Commissioner of Income Tax (Appeals) fell in error in treating part of such income as income from house property. We are of the opinion that assessee’s income has to be considered only under the head "income from business". - Decided in favour of assessee
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