https://www.taxtmi.com/caselaws?id=397212 The High Court determined that income from letting out property for a technological park should be classified as business income, not income from house property. It upheld the eligibility for deduction under section 80IA on rental and lease income from an industrial park for IT industries. The court emphasized that income from specialized properties like IT parks falls under business income, dismissing the revenue's appeal. The judgment clarified the treatment of such income and allowed for deductions under section 80IA, in line with established legal principles and precedents. en-us Mon, 03 Aug 2020 00:00:00 +0530 Mon, 18 Jan 2021 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397212 The High Court determined that income from letting out property for a technological park should be classified as business income, not income from house property. It upheld the eligibility for deduction under section 80IA on rental and lease income from an industrial park for IT industries. The court emphasized that income from specialized properties like IT parks falls under business income, dismissing the revenue's appeal. The judgment clarified the treatment of such income and allowed for deductions under section 80IA, in line with established legal principles and precedents. Case-Laws Income Tax Mon, 03 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397212