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2012 (6) TMI 653 - AT - Income TaxDeduction u/s 80IA - Rental income - letting out of Industrial park buildings - Income from House Property or of business income – Held that:- when various amenities provided by an industrial park or software technology park is predominant in letting out of the housing unit, then the rental income is to be assessed under the head "profit and gains of business or profession" and in a case where letting out of building is predominant and the other amenities are merely incidental to such letting out then the rental income is to be assessed under the head "income from house property". From the facts available on record, it is not clear that whether the letting out of the building was predominant in the transaction between the assessee and the tenants or whether predominant was of the industrial park comprised of various amenities and letting out of a building, as such park was merely incidental. Matter remanded to Assessing Officer for proper verification.
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