The A.C.I.T Vs. M/s IHDP Globals Pvt Ltd
Case No: ITA No. 331/DEL/2021
Court: INCOME TAX APPELLATE TRIBUNAL, DELHI ‘C’ BENCH
Date: 2/7/2025
Parties Involved
appellantThe A.C.I.T
respondentM/s IHDP Globals Pvt Ltd
Facts Summary
The assessee, M/s IHDP Globals Pvt Ltd, filed its Return of Income on 30.03.2018 declaring an income of Rs. 9,94,07,353/-. The return was selected for limited scrutiny assessment, and a statutory notice u/s 143(2) of the Act was issued. The assessee is a Private Limited Company engaged in the business of carpet fabrication, with factory premises at Rithani, Meerut. During the year under consideration, the assessee also earned rental income from leasing out a building situated at Plot no. 7, Sect…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the rental income earned by the assessee is taxable under the head ‘house property’ or ‘profit and gains from business and professions’.
Precedents Relied Upon
7 precedents cited in this judgement.