Space leasing Income with services and facilities will be business income

RELEVANT PARAGRAPH  15. Therefore, in our view, the issue involved in the present appeals is essentially a question of fact and once this question is answered, the application of appropriate legal principles should not present much difficulty. We find considerable strength in the submission of the assessee that facts in its case were distinguishable from those in the case of Shambhu Investments (supra). Separate agreements for provision of services and amenities clearly spell out intention to render commercial services to the occupiers. Further, advance received for the hiring of services for...