Section 80IAB deduction allowed against rental income from SEZ development

Cessna Garden Developers Pvt. Ltd. Vs ACIT (ITAT Bangalore) The issue under consideration is whether deduction under section 80IAB will be allowed against the income of lease/ rental income from development of SEZ irrespective of wrong classification of head of income. The assessee undertaking is engaged in the development of Special Economic Zone (SEZ) and is eligible for claiming deduction u/s. 80IAB of the Act. The assessee has derived lease/rental income from development of SEZ. The lease/rental income from SEZ was declared by the assessee under the head ‘income from house property&#...