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Income from Rent

This query is : Resolved 
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(Querist)
16 November 2008 Dear Sir,

Our Company is into developing and Leasing of Properties
My company developed a factory building on 99 years Leased Land and given on Rent to our sister concern which is into manufacturing of Tools Dies and Punches for pharmaceutical company the income which is arrived by way of rent will be treated as income from House property or income from business profession

Regards

Ravi Konda
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 November 2008 It is income from house property. Ref:- CIT Vs.Bhoopalam Commercial Complex & Industries (P) Ltd (2003)262 ITR (Kar).
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