80IA Deduction Allowed on income from Operation of industrial park 

DCIT Vs K Raheja IT Park (Hyderabad) Ltd. (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT) Mumbai dismissed appeals filed by the revenue challenging the Commissioner of Income Tax (Appeals)’s order regarding deductions claimed under Section 80IA(4)(iii) of the Income Tax Act, 1961, by K Raheja IT Park (Hyderabad) Ltd. The appeals pertained to assessment years 2012-13 to 2018-19. The core issue was whether income derived from the operation and maintenance of the industrial park should be classified as “income from house property” or “business income,” a class...