https://www.taxtmi.com/caselaws?id=175004 Income from houses treated as stock-in-trade of a money-lending business, though assessable under section 9 of the Income-tax Act, 1922, could not be shifted into business profits under section 10. Under the Business Profits Tax Act, 1947, only profits chargeable according to section 10 of the 1922 Act could enter the tax base, and the special provisions in rule 3 of Schedule I and the proviso to section 2(3) did not apply to this kind of business. The properties therefore remained outside business profits tax. en-us Tue, 09 Feb 1960 00:00:00 +0530 Mon, 02 Nov 2015 16:24:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175004 Income from houses treated as stock-in-trade of a money-lending business, though assessable under section 9 of the Income-tax Act, 1922, could not be shifted into business profits under section 10. Under the Business Profits Tax Act, 1947, only profits chargeable according to section 10 of the 1922 Act could enter the tax base, and the special provisions in rule 3 of Schedule I and the proviso to section 2(3) did not apply to this kind of business. The properties therefore remained outside business profits tax. Case-Laws Income Tax Tue, 09 Feb 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175004