Lease Rental Income received from letting out of School Building with Amenities shall be Treated as “Income from House Property”: ITAT [Read Order]

By Aparna. M - On June 21, 2023 7:30 am - 2 mins read
Lease-rental income- letting out- school- building- amenities- Income from House property- House- property-ITAT-income -tax-taxscan

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that lease rental income received from letting out of school buildings with amenities should be treated as Income from House Property. The assessee Kanakia Gruhnirman Pvt. Ltd. is engaged in the business of ‘Real Estate Development’. After filing the return of the income, the…

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