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Income from Lease Money or Rentals taxable as Business Income if it is Exclusive or Predominant Business of Assessee
Case Law Details
- Case Name
- PSTS Heavy Lift and Shift Ltd Vs DCIT (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Madras High Court
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PSTS Heavy Lift and Shift Ltd Vs DCIT (Madras High Court)
The issue under consideration is whether the income earned by the Assessees during the Assessment Years in question from letting out of its warehouses or property to lessees, is taxable under the head ‘Income from Business’ or ‘Income from House Property?
High Court states that, in the present cases, it is not even in dispute that all the exclusive and main source of income of the Assessee was only the rentals and lease money received from the lessees in both the cases and the Assessing Authority took ...
