Renting income from cargo agents, airlines, etc. eligible for deduction u/s 80IA

Menzies Aviation Bobba (Bangalore) Pvt. Ltd. Vs ACIT (ITAT Bangalore) ITAT Bangalore held that rental income is inseparably connected with the business carried on by the assessee and emanate directly from the business of the undertaking. Accordingly, rental income derived by the assessee from Cargo Agents, Airlines, Banks etc., is derived from the cargo business and eligible for deduction u/s. 80IA. The addition is deleted. Facts- The case was selected for scrutiny under CASS and a notice u/s. 143(2) was duly served on the assessee. The AO disallowed a sum of Rs.36,68,95,134 claimed as a deduc...