Income from Letting out Property in Industrial park/SEZ including amenities Taxable as Business Income

CIT Vs Tidel Park Limited (Madras High Court) The issue under consideration is whether the income derived from letting out of the property in an industrial park/SEZ including the amenities would be business income in the hands of the owner of the property? High Court states that on account of the circular No.16 of 2017 issued by the CBDT dated 25.04.2017. The CBDT after taking note of the two decisions of the Karnataka High Court held that it is now a settled position that in the case of an undertaking which develops, develops and operates or maintains and operates an industrial park/SEZ notif...