Rice mill Lease rentals taxable as Income from other sources

Advertisement Kanyaka Parameswari Rice Mill Vs ITO (ITAT Visakhapatnam) In this case Since the rice mill owned by the assessee was let out to another rice mill and the rental income was received without carrying on any business activity or rendering any services incidental to carrying on the rice mill, therefore, the AO rightly assessed the income under the head ‘Income from other sources’. FULL TEXT OF THE ITAT JUDGMENT This appeal filed by the assessee is directed against order of the Commissioner of Income Tax (Appeals) {CIT(A)}, Vijayawada vide appeal No.265/MTM/CIT(A)/VJA/09-10 dat...