https://www.taxtmi.com/caselaws?id=172175 The High Court of Madras ruled that rental income derived by the assessee-company from letting out properties should be assessed under the head of 'Property Income' and not 'Business Income'. The Court did not address the applicability of section 43B for disallowing Urban Land Tax and non-deductibility of water supply costs from property income due to the classification of rental income as 'Property Income'. en-us Thu, 05 Sep 2002 00:00:00 +0530 Thu, 13 Aug 2015 12:10:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172175 The High Court of Madras ruled that rental income derived by the assessee-company from letting out properties should be assessed under the head of 'Property Income' and not 'Business Income'. The Court did not address the applicability of section 43B for disallowing Urban Land Tax and non-deductibility of water supply costs from property income due to the classification of rental income as 'Property Income'. Case-Laws Income Tax Thu, 05 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172175