Leasing and service charges from leasing premises of special nature as per client’s need to taxed as business income

ITO Vs Balwas Realty and Infrastructure Pvt. Ltd. (ITAT Mumbai) Leasing and service charges from leasing premises of special nature as per client’s need to taxed as business income Conclusion: Where assessee-company was not simply letting out a structure to earn rental income out of it rather it was in the business of building and leasing premises of special nature as per the requirements of the clients and had installed special equipments therein, leave and licence as well as service charges had to be taxed as business income and not as income from house property. Held: Assessee-company...