Income From Sub-Letting Deemed as 'Business Income' in the Business of Renting/Licensing of Shops: Calcutta High Court

In a significant ruling, the Calcutta High Court recently pronounced its judgement on an income tax matter involving the classification of income derived from sub-licensing commercial spaces. The case, filed under ITA/168/2010, revolves around M/S. Oberoi Building & Investment (P) Limited challenging the assessment by the Commissioner of Income Tax – II, Kolkata & Anr. Key Details of the Case: 1. Judges Presiding: The Hon’ble Justice Surya Prakash Kesarwani and…