Rental income from sub-lease shall be considered as Business Income since same was business of assessee

Last updated: 13 November 2021

Court :
ITAT Chennai

Brief :
In Shri Shanthilal Movji Bhai Thakker v. The Income Tax Officer [ITA No. 2267-2270/Chny/2019 decided on November 3, 2021]Income Tax Appellate Tribunal, Chennai ("ITAT")held that rental income from sub-lease shall be considered as business income as the assesee was engaged in business of real estate development and the property in question was sub-leased in furtherance of their business.

Citation :
ITA No. 2267-2270/Chny/2019 decided on November 3, 2021

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Bimal Jain

Published in Income Tax
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Rental income from sub-lease shall be considered as Business Income since same was business of assessee

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