Held that the receipts from infrastructure support services were to be taxed under the head profits and gains from business or profession and not as income from house property, the interest expense, depreciation and other expenses were also to be treated as business expenses. (AY. 2014-15)
ACIT v. Ruchi Malls Pvt. Ltd. (2021)92 ITR 62 (SN) (Delhi)(Trib.)
S. 28(i) : Business income-Income from house property-Leasing, operating and maintaining mall-Rental income assessable as business income and not as income from house property-Interest expense, depreciation and other expenses allowable as business expenditure. [S. 22, 37(1)]