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2008 (12) TMI 331 - HC - Income TaxBusiness Income or Income from property under section 22, 28 – Rent – The assessee was a local authority for planning, development and improvement of cities and received income from rent. In this case Haryana High Court held the finding of the Tribunal, the main business of the assessee was not renting of property, but of development and sale of property. Hence, the assessee could claim the head to be income from property instead of income from business. The appeal is dismissed. – Decision in favor of assessee – against the revenue.
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