https://www.taxtmi.com/caselaws?id=187889 Lease rentals and maintenance charges from a commercially developed complex were assessed as business income because the assessee took land on lease, constructed the complex from its own funds, and commercially exploited it as a trading asset. The provision of watch and ward, maintenance, water supply, lifts, generators, power, and other common services showed organised business activity rather than mere ownership exploitation. Income arising from property taken on lease, developed, and let as part of a business venture was therefore taxable as business income and not as income from house property. en-us Wed, 17 Mar 2004 00:00:00 +0530 Thu, 10 Nov 2016 14:22:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187889 Lease rentals and maintenance charges from a commercially developed complex were assessed as business income because the assessee took land on lease, constructed the complex from its own funds, and commercially exploited it as a trading asset. The provision of watch and ward, maintenance, water supply, lifts, generators, power, and other common services showed organised business activity rather than mere ownership exploitation. Income arising from property taken on lease, developed, and let as part of a business venture was therefore taxable as business income and not as income from house property. Case-Laws Income Tax Wed, 17 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187889