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2011 (8) TMI 1169 - AT - Income TaxAssessment of income - business center income - income from house property or business income Held that:- The property can be used only for a specific purpose i.e., I.T. operation and the assessee has provided complex service facilities and infrastructure for operating such business and on this factual matrix, we uphold the contention of the assessee that the income in question should be assessed under the head “Income From Business & Profession”. Claim for deduction under section 80IA(4)(iii) computation - Held that:- Assessing Officer is directed to allow the claim of expenses as the disallowance was made only on the ground that the income is assessable under the head “House Property”. Consequent to our decision in ground no.1, we direct the Assessing Officer to allow both the expenditure claimed as well as the claim for deduction under section 80IA(4)(iii). Consequently, we set aside the order passed by the Commissioner (Appeals) and allow the ground no.2 and 3 raised by the assessee. As the income in question is assessable under the head “Income From Business”, the addition made under section 23(1)(a) is to be necessarily deleted
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