TMI Blog2001 (6) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... "(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in holding that the properties at No. 4, Nungambakkam High Road, Madras, and Balmal Apartments, Bombay, are business assets and no notional income from such properties should be estimated and assessed under the head 'Income from house property'? (2) Whether, on the facts and in the cir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s a part of the business and treated as business, the finding of the Tribunal that the income from the property could not be assessed separately as income from house property and included in the assessee's total income, was correct." Following the said decision, we hold that the house properties involved are a part of the business assets of the assessee and the income derived therefrom cannot be ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
