Income from bare letting of tenement is taxable as Income from house property

CWT Vs Atma Ram Properties (P) Ltd. (Delhi High Court) In the present case, the subject property let out by the assessee-company was undisputedly owned by it and it was a case of bare letting of tenement and the subject hired out was not a complex one. It was thus a case of letting out of a property owned by the assessee simpliciter and not a case of exploitation of the property by way of complex commercial activity. The rental income earned from the said property thus was chargeable to tax under the head “Income from house property” and not under the head “Profits and gains of business ...