Rental Income from business of leasing out house properties taxable as business income

CA Saurabh Chokhra Rental Income from business of leasing out house properties taxable as business income and not income from House property Brief of the case: The Hon’ble Supreme court in the above cited case held that if the assessee is engaged in the business of leasing out house properties then the rental income shall be taxable as business income and not income from house property. Reliance was placed on the decision of Supreme Court in the case of Chennai Properties and Investments Ltd. v. Commissioner of Income Tax [2015] 373 ITR 673 (SC) Facts of the case: The assessee is a p...