Rent from letting out shop rooms in mall taxable as Business Income

CIT Vs M/s. Oberon Edifices & Estates (P) Ltd (Kerala High Court)

Conclusion –

Amount received by letting out the shop rooms in the mall is business income taxable under the head ‘Profits and gains of business’.

Facts –

Assessee constructed shopping mall and let out the shop rooms. Assessee while filing the ROI treated amount received from letting out of the shops under the head ‘Income from business’. However, AO treated the same as ‘income from house property’.

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