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 “Income from Business” 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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