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Rental Income from business of leasing out house properties taxable as business income
Case Law Details
- Case Name
- M/s Rayala Corporation Pvt. Ltd. vs. ACIT (Supreme Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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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...
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