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2015 (12) TMI 306 - SUPREME COURT OF INDIA

2015 (12) TMI 306 - SUPREME COURT OF INDIA - TMI - Income derived from commercial properties Business income or income from house property - The assessee company is deriving rental income from letting out a commercial complex apart from income from other sources Held that:- The Special Leave Petitions are dismissed. HC decision upheld [2014 (11) TMI 633 - MADRAS HIGH COURT]

High Court [2014 (11) TMI 633 - MADRAS HIGH COURT] has held that:- The assessee had given its premises for r .....

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stalls is income received from property and falls under the specific head described in S.9 - even if the assessee's business was in real estate, the income on letting out of the property was to be assessed as "income from house property - the rental income would not have been realised, but for the letting out of the machinery, plant or furniture along with such building and therefore, the rental received for the building had to be assessed under the head "Income from other sources" - where the o .....

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