https://www.taxtmi.com/caselaws?id=348483 The rental income from the Scindia House property was held to be taxable under 'income from house property' and not 'business income'. The property was not considered the Assessee's stock-in-trade, impacting its treatment for wealth tax purposes. The amendment to Section 40 (3) of the Finance Act, 1983 by the Finance Act, 1988 was deemed non-retrospective. The Court set aside previous orders and allowed the appeals, with no costs awarded. en-us Thu, 21 Sep 2017 00:00:00 +0530 Fri, 15 Dec 2017 16:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348483 The rental income from the Scindia House property was held to be taxable under 'income from house property' and not 'business income'. The property was not considered the Assessee's stock-in-trade, impacting its treatment for wealth tax purposes. The amendment to Section 40 (3) of the Finance Act, 1983 by the Finance Act, 1988 was deemed non-retrospective. The Court set aside previous orders and allowed the appeals, with no costs awarded. Case-Laws Wealth-tax Thu, 21 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348483