Rental Income from Building cannot be treated as Business Income since Assessee is not Involved in Business of Leasing: ITAT [Read Order]

ITAT Vishakapattanam - Rental Income - Business Income - Assessee - Business of Leasing - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Vishakhapatnam bench has held that the rental income received from the building cannot be treated as business income of the assessee who is not involved in the day to day operations and management of the business.  The assessee, Gowtham Residential Junior College had leased out its property consisting of…

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