Business income treatment for lease rent in industrial parks/SEZs affirmed where park development and scheme compliance exist. Income from lease rent for letting out buildings or developed space with amenities in an Industrial Park/SEZ established under notified government schemes is to be treated as business income where the undertaking develops, operates or maintains the park/SEZ and complies with the scheme conditions; the Board accepts judicial rulings to this effect and directs that the Department cease filing appeals and may withdraw those already filed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Business income treatment for lease rent in industrial parks/SEZs affirmed where park development and scheme compliance exist.
Income from lease rent for letting out buildings or developed space with amenities in an Industrial Park/SEZ established under notified government schemes is to be treated as business income where the undertaking develops, operates or maintains the park/SEZ and complies with the scheme conditions; the Board accepts judicial rulings to this effect and directs that the Department cease filing appeals and may withdraw those already filed.
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