Income earned by Builder from letting out of Property is assessable under head of ‘Income from Business’ when objective in MOA is letting out of Property: ITAT [Read Order]

By Yogitha S. Yogesh - On January 16, 2023 3:51 pm - 2 mins read
Income - Builder - property - Income from Business - MOA - letting out of Property - ITAT - taxscan

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has held that income earned by the Builder from letting out of the property is assessable under the head of ā€œIncome from Businessā€ when the objective in MOA is letting out of Property. M/s Tupelo Builders Pvt. Ltd., the Assessee a Private Limited…

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