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Income from housing property or business income

Court :
Kolkatta Bench

Brief :
Whether income form mall management and business centre under agreements with users for providing services and limited rights granted to users while owner ship remains with owner is income form business or housing property?

Citation :
PFH mall and retail management ltd Vs. I.T.O. [2008] 298 ITR (AT) 371(Kolkata)

Held by the Hon`ble Court that, whenever there is concurrent finding by the below authorities no interference should be called for by the high court. Held by the Hon`ble Bench that the income obtained was not merely because of the bare letting of the premises but also because of the facilities and services rendered and just as utilisation of accommodation for providing board and lodging facility to customer is a commercial activity, utilisation of space for providing shopping facilities is also a commercial activity. Therefore income form mall management and business centre is business income.

CA. Shikha
on 05 January 2009
Published in Income Tax
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IIM Indor
Budget 2023