Income from license of Build-Operate-Transfer project taxable as business income

ACIT Vs Rcube Projects Pvt Ltd (ITAT Delhi) ITAT Delhi held that the proceeds of license of Build-Operate-Transfer (BOT) Projects is not taxable as rental income. The same is taxable as business income. Facts- Assessee company is engaged in the business of Real Estate development. The assessee filed a return declaring loss which was taken up for scrutiny assessment. The assessee has filed his return of income declaring revenue of Rs. 4.41 Crore and other income of Rs. 25,917/-. As per the MOU of the assessee with DMRC, the assessee was entitled to have access to operate, manage and maintain th...