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SEZ Lease Rentals Are Business Income, Not House Property: ITAT Mumbai
Case Law Details
- Case Name
- ACIT Vs K Raheja Corp Private Limited (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Mumbai
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ACIT Vs K Raheja Corp Private Limited (ITAT Mumbai)
SEZ Lease Rentals Are Business Income, Not House Property: ITAT Rejects Revenue’s Repeated Challenge Against K Raheja
The Mumbai ITAT reaffirmed that lease rentals from SEZ/IT Parks are taxable as “business income” and not as “income from house property”, while also holding that in abated Section 153A assessments, an assessee is entitled to make fresh beneficial claims even if a different stand was taken in the original return.
K Raheja Corp had originally offered rental income from its IT parks under the head “ho...
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