25 November 2014
If a commercial complex lets out the premises on rental basis to many tenants then, income derived by such lease is chargeable u/h business income or income from house property?
It will also provide amenities facility to its tenants
25 November 2014
Thank you sir for your prompt reply. but, what if the mere objective of the commercial complex is not only to earn rental income but to earn profit
25 November 2014
More over, in DCIT vs Golfin software park p ltd (ITAT Bangalore) case study lease rentals was treated as business income whereas in A.R. Complex v. ITO [2008] 167 Taxman 46 (Mad.) case law it was taxed under house property and other independent services as income from other sources
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