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2020 (9) TMI 538 - HC - Income TaxCorrect head of income - rental income of the appellant from software technology park developed - income from house property or under the head 'income from business' - HELD THAT:- CIT Vs. Tidel Park Ltd. [2020 (7) TMI 339 - MADRAS HIGH COURT] wherein the Court took note of various decisions and answered the substantial questions of law against the Revenue and in favour of the assessee. Decision in the case of Chennai Properties & Investments Ltd. Vs. CIT [2015 (5) TMI 46 - SUPREME COURT] will come to the aid and assistance of the assessee wherein it was held that where, in the terms of memorandum of association, the main object of the assessee given was to acquire properties and earn income by letting out the same, such income was brought to books as business income and not as income from house properties.- Decided in favour of the assessee.
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