Deduction U/s 80IB not allowable on lease rent of industrial undertaking

Navas M. Meeran Vs ACIT (ITAT Cochin)

Conclusion: Lease rent received by assessee by letting out the industrial undertaking was not having any direct connection with the manufacture or production of an article or thing by assessee and the same could not be considered as business income eligible for deduction u/s. 80IB.

Held: Assessee had received lease rent by leasing/renting of factory and one building and claimed it as income from business and on the profit, assessee claimed deducti

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