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Income Tax - Highlights / Catch Notes

Home Highlights December 2023 Year 2023 This

Taxability of Rental income earned from lease of building - AO ...

Income Tax

December 21, 2023

Taxability of Rental income earned from lease of building - AO and CIT(A) treated the rental receipts as income from business or profession and also directed to grant deprecation on the building - claim of deduction u/s 24(a) not allowed - AT

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  2. Lease rent from letting out buildings/developed space along with other amenities in an Industrial Park/SEZ— to be treated as business income - Circular

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