https://www.taxtmi.com/caselaws?id=66208 Rent received from leasing a godown constructed for the assessee's tobacco business, with excise and labour licences and related processing activity at the same premises, was treated as business income because the asset was exploited as part of the business operations and not as passive property. The existence of a lease deed did not change the underlying commercial character of the arrangement. Accordingly, the lease rent was taxable as business income and not as income from house property. en-us Fri, 23 Dec 1983 00:00:00 +0530 Tue, 22 Feb 2011 15:08:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66208 Rent received from leasing a godown constructed for the assessee's tobacco business, with excise and labour licences and related processing activity at the same premises, was treated as business income because the asset was exploited as part of the business operations and not as passive property. The existence of a lease deed did not change the underlying commercial character of the arrangement. Accordingly, the lease rent was taxable as business income and not as income from house property. Case-Laws Income Tax Fri, 23 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66208