Income from renting of IT park with services related to its use as technology centers constitutes Business Income

Ambattur Infra Developers Vs DCIT (ITAT Chennai) It is not disputed that assessee was a recognized IT park and had rented it out to various software companies. It is also not disputed that assessee had entered into two agreements with its lessees, one for renting out the space and other for providing services and maintenance. The question before us is whether the payments received by the assessee through these two agreements are to be considered under the head income from house property or income from other sources or income from business. Ld. Assessing Officer himself had observed that assess...