Assessee computed rental income from factory premises under both ...

Factory rental income taxable u/s 57, not business income.

January 18, 2025

Case Laws Income Tax AT

Assessee computed rental income from factory premises under both "income from house property" and business income incorrectly. ITAT held rental income should be considered under S.57, allowing claim of proportionate expenses against such rental income. AO directed to recompute taxable income under S.57. Assessee's grounds partly allowed.

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Assessee computed rental income from factory premises under both ...

Factory rental income taxable u/s 57, not business income.

January 18, 2025

Case Laws Income Tax AT

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