Facility Management Services Income Taxable as “Business Income”, Eligible for Applicable Statutory Deductions: ITAT directs Re-Determination of Income [Read Order]

By Ipsita Das - On August 25, 2023 7:00 am - 2 mins read

Facility Management Services Income - Business Income - Statutory Deductions - ITAT directs Re-Determination of Income -Deductions - Re-Determination of Income - taxscan

The Delhi Bench of Income Tax Appellate Tribunal Held that Commissioner of Income Tax (Appeals) [CIT (A)] defaulted in recharacterizing the rental income as business income and arbitrarily disallowing income tax deduction without any justifiable reasons. Thus restore the matter to the file of the Assessing Officer for redetermination of taxable income under the appropriate…

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