https://www.taxtmi.com/caselaws?id=218656 Lease rentals from modules let out with infrastructural facilities in a software technology park were taxable as business income because the assessee's memorandum showed a main object of providing facilities for computer centres and related software activity. The modules were not passively let as bare property; they were constructed and exploited as part of the company's commercial business model. Applying the settled test that the character of letting income depends on the nature of the activity and the assessee's object, the receipts were treated as commercial exploitation of a business asset. The Revenue's appeals failed, and the Tribunal's view was affirmed. en-us Tue, 09 Oct 2012 00:00:00 +0530 Thu, 22 Nov 2012 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218656 Lease rentals from modules let out with infrastructural facilities in a software technology park were taxable as business income because the assessee's memorandum showed a main object of providing facilities for computer centres and related software activity. The modules were not passively let as bare property; they were constructed and exploited as part of the company's commercial business model. Applying the settled test that the character of letting income depends on the nature of the activity and the assessee's object, the receipts were treated as commercial exploitation of a business asset. The Revenue's appeals failed, and the Tribunal's view was affirmed. Case-Laws Income Tax Tue, 09 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218656