https://www.taxtmi.com/caselaws?id=276007 The Appellate Tribunal upheld the decision that income from sub-leasing of land should be considered as business income, allowing set-off of brought forward business losses, and permitting the claim of depreciation under Section 32(2) of the Act. The Tribunal supported the view that sub-leasing was a legitimate business activity aligned with the company's main objective of developing biotechnology and life science facilities. The expenses related to sub-leasing were deemed allowable deductions, and the assessee was eligible for the set-off of losses incurred in prior financial years. en-us Fri, 23 Nov 2012 00:00:00 +0530 Thu, 25 Oct 2018 11:50:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276007 The Appellate Tribunal upheld the decision that income from sub-leasing of land should be considered as business income, allowing set-off of brought forward business losses, and permitting the claim of depreciation under Section 32(2) of the Act. The Tribunal supported the view that sub-leasing was a legitimate business activity aligned with the company's main objective of developing biotechnology and life science facilities. The expenses related to sub-leasing were deemed allowable deductions, and the assessee was eligible for the set-off of losses incurred in prior financial years. Case-Laws Income Tax Fri, 23 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276007