https://www.taxtmi.com/caselaws?id=410004 The High Court of Madras determined that income from letting out modules of a Software Technology Park qualifies as business income eligible for deduction under Section 80IA of the Income Tax Act. The Court relied on precedents and circulars to establish that income from letting out property with associated facilities in an industrial park/SEZ constitutes business income assessable under the head 'Profits and Gains of Business'. The Court dismissed the Revenue's appeal, concluding that income from letting out property with amenities and facilities falls under the category of business income, not income from house property or other sources. en-us Fri, 16 Jul 2021 00:00:00 +0530 Wed, 21 Jul 2021 17:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410004 The High Court of Madras determined that income from letting out modules of a Software Technology Park qualifies as business income eligible for deduction under Section 80IA of the Income Tax Act. The Court relied on precedents and circulars to establish that income from letting out property with associated facilities in an industrial park/SEZ constitutes business income assessable under the head 'Profits and Gains of Business'. The Court dismissed the Revenue's appeal, concluding that income from letting out property with amenities and facilities falls under the category of business income, not income from house property or other sources. Case-Laws Income Tax Fri, 16 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410004