Receipt from parking facilities treated as business income: ITAT Mumbai

Striton Properties Private Limited Vs DCIT (ITAT Mumbai)

ITAT Mumbai held that the receipt from parking facilities is to be treated as business income instead of income from other sources since the same was already accepted as business income in earlier assessment years.

Facts- The assessee has been showing the receipt from parking facilities as business income since 2008 and the same has been accepted as such by the AO. However, during the year under consideration, the AO breached the principle of consistency and treated the income as income from other sour

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