https://www.taxtmi.com/caselaws?id=410468 The High Court of Madras ruled in favor of the assessee, holding that income from letting out modules of a Software Technology park constituted business income eligible for deduction under Section 80IA of the Act. The Court emphasized that income from letting out property in an industrial park/SEZ, along with amenities and facilities, should be considered business income. The decision was based on previous rulings and a circular by the CBDT, highlighting the importance of considering all amenities provided with the leased property. The Court dismissed the Revenue's appeals, affirming that such income should be classified as business income rather than income from house property. en-us Thu, 29 Jul 2021 00:00:00 +0530 Sat, 31 Jul 2021 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410468 The High Court of Madras ruled in favor of the assessee, holding that income from letting out modules of a Software Technology park constituted business income eligible for deduction under Section 80IA of the Act. The Court emphasized that income from letting out property in an industrial park/SEZ, along with amenities and facilities, should be considered business income. The decision was based on previous rulings and a circular by the CBDT, highlighting the importance of considering all amenities provided with the leased property. The Court dismissed the Revenue's appeals, affirming that such income should be classified as business income rather than income from house property. Case-Laws Income Tax Thu, 29 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410468