Income from housing property or Income from business ::

Last updated: 07 October 2007

Court :
HC

Brief :
Held by the Hon`ble Bench that, neither the construction of hotel is completed nor the hotel business is commenced. Therefore rental income received by the assessee is not assessable under the head " Income from business".

Citation :
C.I.T. Vs. Hotel Ratanada International P. Ltd.

Income from housing property or Income from business C.I.T. Vs. Hotel Ratanada International P. Ltd. 05/09/2007 [2007] 293 ITR 557 (Raj) Case Fact:Whether, rental income received from hotel business which is not commenced is assessable under "Income from business"? Decision: Held by the Hon`ble Bench that, neither the construction of hotel is completed nor the hotel business is commenced. Therefore rental income received by the assessee is not assessable under the head " Income from business".