Lease Rent and Packaging Charges derived under  Lease Agreements for rendering Manufacturing Services to IMFL is Business Income :ITAT [Read Order]

By Aparna. M - On July 8, 2023 12:00 pm - 2 mins read
Lease - Rent - Packaging - Charges – Lease - Agreements - rendering - Manufacturing - Services - IMFL – Business - Income – ITAT – TAXSCAN

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled that lease rent and packaging charges derived under lease agreements for rendering manufacturing services to Indian Made Foreign Liquor (IMFL) is business Income . The assessee, Hyderabad Distilleries and Wineries Pvt. Ltd.engaged in the manufacturing of Indian Made Foreign Liquor (IMFL) since 1977. They…

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