Income from operating & maintaining IT Park is taxable as business income

DCIT Vs N. V. Developers Pvt. Ltd. (ITAT Mumbai)

It is an undisputed fact that the assessee is operating and maintaining IT Park- G-Corp Tech Park. The issue in present appeal is in narrow encompass i.e. Whether the income from operating and maintaining of IT Park is to be assessed under the head ‘Income from House Property’ or under the head ‘Income from Business’. It is an unrebutted fact that in the preceding Assessment Year i.e. Assessment Year 2011-12 and in immediate succeeding Assessment Year i.e. Assessment Y

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