https://www.taxtmi.com/caselaws?id=8121 Rental income from godowns owned by the assessee after cessation of its earlier businesses was held assessable under the specific head of income from property, not as business profits. The Court applied the principle that receipts falling squarely within a specific charging head cannot be shifted to the business head merely because they bear some relation to commerce. Income from tenants of owned buildings is specifically covered by the property-income provision, while business income applies only to profits from a business actually carried on by the assessee; the answer was against the assessee. en-us Fri, 28 Aug 1970 00:00:00 +0530 Sat, 28 Mar 2009 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8121 Rental income from godowns owned by the assessee after cessation of its earlier businesses was held assessable under the specific head of income from property, not as business profits. The Court applied the principle that receipts falling squarely within a specific charging head cannot be shifted to the business head merely because they bear some relation to commerce. Income from tenants of owned buildings is specifically covered by the property-income provision, while business income applies only to profits from a business actually carried on by the assessee; the answer was against the assessee. Case-Laws Income Tax Fri, 28 Aug 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8121