INFOPARKS KERALA,TRIVANDRUM vs. THE JT DIRECTOR OF IT (OSD) EXEM), COCHIN
In the result, the assessee’s appeals are partly allowed
ITA 75/COCH/2015[2009-10]Status: DisposedITAT Cochin11 Aug 2023AY 2009-10
Bench: Shri Sanjay Arora, Am & Shri Aby T. Varkey, Jm
For Appellant: Sri. Rajakannan, AdvocateFor Respondent: Smt. J.M. Jamuna Devi, Sr.AR
Section 11Section 11(1)Section 12ASection 143(3)Section 2(15)
unexplained variation therein, guided more by the fact of the assessee operating in a commercial environment, on commercial lines, charging lease rent to the industrial units at the going market rate/s. If that does not translate into profit for a particular year/s, which could be for a variety of reasons, is another matter. Why, even businesses suffer losses, which