TMI Blog2021 (7) TMI 302X X X X Extracts X X X X X X X X Extracts X X X X ..... derived from letting out of the property with all amenities and facilities would be income from business and cannot be assessed either as income from house property or as income from other sources. - Tax Case Appeal No.16 of 2014 - - - Dated:- 14-6-2021 - Hon'ble Mr.Justice M. Duraiswamy And Hon'ble Mrs.Justice R. Hemalatha For the Appellant : Mr.M.Swaminathan, Senior Standing Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en decided by the Hon'ble Division Bench of this Court, by its Judgment dated 07.07.2020 in T.C.A. No.732 733 of 2018, wherein the Hon'ble Division Bench held as follows:- 8. So far as Substantial Question of Law No.1 is concerned, it has to be seen as to whether the income derived from letting out of the property in an industrial park/SEZ including the amenities and the income receiv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Raghavan, the emphasis is on not only letting out of the premises / developed space but along with other facilities in an industrial park/SEZ. The tribunal in this regard followed a decision of the Division Bench of this Court in the case of CIT Vs. Elnet Technologies Limited, reported in (2013) 30 Taxmann.com 63 (Mad). In the said decision, at paragraph No.11, the Division Bench, has held as foll ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sources. The said decision of the Hon'ble Division Bench was appealed against by the revenue before the Hon'ble Supreme Court in SLP No.11638 of 2013 and we are informed that the appeal was dismissed on 27.01.2020 on the ground of Low Tax Effect. 12. Considering all those facts as wells as the circular issued by CBDT, substantial question of law No.1, has to be answered against the reve ..... X X X X Extracts X X X X X X X X Extracts X X X X
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