Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2008 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (8) TMI 522 - HC - Income TaxProperty- Business Income- The assessee wascarrying on the business of dealing and investing in properties, flats, warehouses, shops etc., purchased flats for trading purposes but let them out on licence basis for temporary periods and earned monthly rental income as licence fees. The assessee claimed the rental income as “income from business” but the authorities below treated the income as “Income from house Property” under section 22 of the Act. Held that- in the light of the decision of East India Housing and Land Development Trust Ltd. [1961] 42 ITR 49 (SC), the rental income earned by the assessee was an income from house property.
|