Allowing the appeal the Court held that the Tribunal was not right in holding that the assessee’s income from the technology park owned, developed and maintained by it was assessable under the head Income from house property and not under the head “Income from business. Court also held that remand by the tribunal is held to be not proper. (AY. 2008-09)
Lulu Tech Park Pvt. Ltd. v. PCIT (2020) 428 ITR 514 (Mad.)(HC)
S. 28(i) : Business income-Income from house property-Rental income from Technology Park owned, developed and maintained by assessee-Taxable as business income-Remand by Appellate Tribunal is held to be not proper. [S. 22,80IAB, 254(1)]