https://www.taxtmi.com/caselaws?id=251475 The High Court determined that income derived from leasing out a property was classified as income from house property rather than business income. The court emphasized that the building leased did not contain specialized plant and machinery for commercial exploitation, indicating the income stemmed from ownership rather than active business operations. Consequently, the appeal was dismissed, affirming the income's classification as income from house property based on legal provisions and factual findings. en-us Tue, 09 Sep 2014 00:00:00 +0530 Mon, 15 Sep 2014 10:02:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251475 The High Court determined that income derived from leasing out a property was classified as income from house property rather than business income. The court emphasized that the building leased did not contain specialized plant and machinery for commercial exploitation, indicating the income stemmed from ownership rather than active business operations. Consequently, the appeal was dismissed, affirming the income's classification as income from house property based on legal provisions and factual findings. Case-Laws Income Tax Tue, 09 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251475