https://www.taxtmi.com/caselaws?id=6878 Income from market properties owned and merely let out by the assessee was held to arise from exploitation of property as owner, not from any trading or commercial activity carried on by the assessee; it was therefore assessable as income from property under section 9 and not as business income under section 10. Income from the building called the fort was held to be agricultural income because its location near the agricultural lands and its use for storing agricultural produce and for estate offices satisfied the statutory condition as to situation and purpose under section 2(1)(c); that income was therefore exempt. en-us Fri, 13 Mar 1964 00:00:00 +0530 Fri, 06 Feb 2009 18:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6878 Income from market properties owned and merely let out by the assessee was held to arise from exploitation of property as owner, not from any trading or commercial activity carried on by the assessee; it was therefore assessable as income from property under section 9 and not as business income under section 10. Income from the building called the fort was held to be agricultural income because its location near the agricultural lands and its use for storing agricultural produce and for estate offices satisfied the statutory condition as to situation and purpose under section 2(1)(c); that income was therefore exempt. Case-Laws Income Tax Fri, 13 Mar 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6878