Renting income from business of letting out house properties is taxable as business income

DCIT Vs Gulmohar Park Mall Pvt. Ltd (ITAT Ahmedabad) ITAT Ahmedabad held that assessee was engaged in business of leasing out its house properties to earn rent, income so earned as rent should be treated as ‘business income’, and not as ‘income from house property’. Facts- During the year under consideration, the assessee earned income of Rs. 7,14,14,205/- from its mall operating business, and offered the same to tax as its “business income”. The assessee had also claimed business expenditure namely; administration, finance, other miscellaneous expenditure etc. agai...