Tribunal held that compensation received from tenant under an option agreement that other two units of property would not be let out to third party without consent of tenant for a period of 9 months and received a compensation for same is assessable as income from other sources and not as income from house property. (AY. 2011-12)
Redwood IT Services (P.) Ltd. v. ITO (2020) 182 ITD 1 (Mum.) (Trib.)
S. 56 : Income from other sources-Compensation from Tenant for not letting out two units without the consent-Assessable as income from other sources and not as income from house property. [S. 22, 23]