Accounting lease rental on receipt basis

Plesae be guided by following points

1) What are the objects of the company: If it includes Leasing of property then it is a business income

2) Whether the property which is leased out is a depreciable asset, in the block of assets if yes then it is a business asset and income is business income

3) the property leased out should be clearly bifurcated from other property used.

Merely you are booking the lease rental on receipt basis do not change nature of the transaction