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2014 (9) TMI 501 - HC - Income TaxClassification of income - Income from business and profession or income from house property – Held that:- Section 22 clearly indicates that income from house property would be chargeable to income tax under the head "income from other sources" - The intention of the legislature in making rent from property chargeable under the heading income from other sources is apparently clear – relying upon Universal Plast Ltd. Versus Commissioner of Income-Tax [1999 (3) TMI 15 - SUPREME Court] - only the building was leased out along with a lift, tubewell and electrical fittings - This cannot be treated as plant and machinery but would be treated as amenities, which are necessary for the use of any building - the assessee had not placed any material on record to show that the building had peculiar amenities with which the building could be treated as a "plant" and not a building simplicitor - No material has been brought on record to indicate that the building had peculiar amenities, which could be commercially exploited such as facilities of sterilization of surgical instruments and bandages or an operation theatre - The Tribunal was rightly of the view that the building which was leased out by the appellant was nothing else but a building simplicitor and was not a building, which was equipped with specialized plant and machinery –assessee is not running the business of a hospital and has only let out the building - the income derived was from the ownership of the building and not from the personal exertion, which is necessary to treat the income as a business income – thus, the income derived by the assessee from the leasing out of its property was an income from house property and not a business income – Decided against assessee.
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