Rental Income earned from Lease of building taxable under the head “Income from Business and Profession”: ITAT [Read Order]

Rental Income - earned from Lease - building taxable - Income from Business and Profession - ITAT - Income Tax Act - Income Tax - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Delhi bench held that rental income earned from the lease of a building would be taxable under the head “Income from Business and Profession.” The tribunal had already decided the issue in the assessee’s appeal in the assessment years 2008-09 and 2009-10, respectively. The assessee, M. M. Creations, filed…

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