Income from housing property or business income

Last updated: 12 November 2008

Court :

Brief :

Citation :
Case Fact: Whether income form lease of property is income form business or housing property?

Held by the Hon`ble Court that, assessee earned income by leasing the property, however neither commercial activity nor business activity carried out by the assessee even the object clause contained in MOA has not alter the nature of the activity of the assessee company. Therefore income from lease assessable as income from property