Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2005 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2005 (2) TMI 31 - MADHYA PRADESH HIGH COURTProperty – rental income - "Whether, Tribunal was justified to hold that the rental income should be assessed as income from business in place of income from house property assessed by the Assessing Officer?" - held that letting out of the premises by the assessee was only temporary to generate income and, therefore, the rental income should be treated as business income - All the assets were not let out. Only a few of the assets of the business were let out and that too temporarily with an intention of exploiting them. The finding is that there is no intention to close down the business. Nor is there any intention that the assets will cease to be business assets - we find no error in the order of the Tribunal.
|