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2018 (12) TMI 705 - HC - Income TaxRental income received by the Assessee - taxable as income from business and not under the head Income from House Property - Held that:- It is an undisputed position that the respondent is involved in the business of purchase and sale of ready-made garments and also letting out of commercial premises. The object of the business of the respondent firm is not restricted to only ready-made garments. Therefore, once it is accepted that the giving commercial premises on rent/lease is also a business activity of the respondent then the decision of the Supreme Court in case of Chennai Properties and Investment Ltd.[2015 (5) TMI 46 - SUPREME COURT] and in Shreeji Exhibitors would [2015 (8) TMI 886 - ITAT MUMBAI] equally apply in the facts of respondent's case.
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