Building-Partially let out partially used for business::

Last updated: 07 September 2007

Court :
HC

Brief :
Held that, let out portion not exempted, only part used for the business is exepmted.

Citation :
C.I.T ( Wealth Tax) Vs. Fagun Estates (P) Ltd.

Building-Partially let out partially used for business C.I.T ( Wealth Tax) Vs. Fagun Estates (P) Ltd. 22-09-2004 (2005 272 ITR 472 (Madras) Case Fact: Whether exemption allowed to partial let out building which is partialy used for the business. Decision: Held that, let out portion not exempted, only part used for the business is exepmted.