Compensation for letting of terrace and hall constitutes the business activity

Knight Raj Properties P Ltd. Vs ITO (ITAT Mumbai) This is an appeal by the assessee directed against order of learned CIT(A)-17, Mumbai, dated 20.02.2017 and pertains to assessment year 2012-13. 2. The grounds of appeal read as under: 1. The Ld. CIT(A) erred in confirming the action of the Ld. A.O. in making addition of Rs.12,07,252/- by treating the compensation received from terrace antenna and hall booking as “Income from Other Sources ” instead of “Business Income” without appreciating facts and circumstances of the case. Thus, the addition of Rs.12,07,252/- is unju...