Dismissing the appeal of the revenue the Court held that lease rent income received by assessee from letting out of built-up space of industrial park was assessable under head ‘income from business’ and such income was eligible for deduction under section 80IA. (AY. 2008-09)
CIT v. Tidel Park Ltd. (2020) 430 ITR 214 / 317 CTR 440 / 195 DTR 191 (Mad.)(HC)
S. 80IA :Industrial undertakings – Lease rent income of industrial park is assessable as business income and eligible for deduction [ S. 22, 28 (i) ]