Income from Business of Renting Equipments of Residual Management not falls under House Property Income: ITAT deletes Addition [Read Order]

By Killamsetty Rasmita - On August 9, 2023 6:30 am - 2 mins read
Income - Income from Business - Income from Business of Renting Equipments of Residual Management - Renting Equipments of Residual Management - taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that income from the business of renting equipment of residual management does not fall under house property income and held that the assessee’s business was not the business of renting out the equipment, but the business of acquiring and dealing in unguaranteed residuary…

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