Income from sub-licensing of shops with other services is Business Income: Calcutta HC [Read Order]

Kolkata High Court's division bench has ruled that revenue generated from subletting is accurately classified as business income

By Amal Michael - On December 23, 2023 5:05 pm - 2 mins read

Calcutta High Court - Business Income - Business - TAXSCAN

The division bench of the Calcutta High Court quashed an order categorizing income from subletting as income from house property. The court concurred with the assessee’s assertion that income from subletting should be classified as business income. The petitioner, Oberoi buildings and Investment (P) Ltd through a sublicensing agreement, leased a building space from 28.09.1991…

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