Revenue from renting out the terrace is chargeable as income from house property

Brief of the Case: In the cited case, Delhi High Court held that the building had been developed to be sold or let out with no possibility of the terrace floor being subjected to such utilization. As there is no other purpose to be served by the property held on the terrace floor, except the exploitation of the licensed space for gaining the income, such income cannot be treated as either income from business or income from other sources. The income was thus chargeable as income from house property. Facts of the Case: The assessee was the absolute owner of the terrace floor of the property and...