Dismissing the appeal the Court held that the Tribunal was right in holding that the income derived from letting out property to tenants for the purpose of running a software technology park was income from business. Followed CIT v. Tidel Park Ltd (2020) 15 ITR-OL502 (Mad.)(HC). (AY.2007-08)
CIT v. Tidel Park Ltd. (2021) 437 ITR 311 (Mad.)(HC)
S. 28(i) : Business income-Income earned by letting out of property for running software Technology park-Assessable as business income. [S. 22, 56]