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Whether Lease Rent Received In Approval Industrial Park Is Untitled For Deduction U/s. 80IA?

QUERY: An assessee has constructed units in an industrial park approved by the Government. The said units were given on lease and rent collected from lessees. Is assessee eligible for deduction under section 80-IA(4)(iii)?
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Generally the income falling under sections 80-IA or 80-IB should be of business income. Where the assessee merely derives rental income. Such income may not be eligible. But an exception is possible where income is derived from lease, while supplying all infrastructure services of SEZ.

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