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
You have reached daily limit of 2 Free Judgements. To view this or other Judgements please subscribe to CCI PRO :
Stay updated! Stay ads free
Browse CAclubindia ads free.
Latest updates on WA.
Daily E-Newsletter and much more.
CCI PRO annual subscription :
Original Price : INR 2999/-
Offer Price : INR 1999/-
Duration : 1 year
(Prices Inclusive of GST)
Know More
Note: If you are a PRO member already, please click here to login (for ad free experience)
Bimal Jain
Published in Income Tax
Views : 233
Comments
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
