https://www.taxtmi.com/caselaws?id=10249 The High Court of Madras held that rental income derived from letting out properties should be assessed under the head 'House property' and not 'Business' for the assessment year 1987-88. The court disagreed with the Income-tax Appellate Tribunal's assessment and ruled in favor of the Revenue, against the assessee, with no costs. The court also granted the assessee leave to appeal to the Supreme Court of India due to the likelihood of recurring issues in subsequent assessment years. en-us Thu, 20 Jan 2005 00:00:00 +0530 Sat, 11 Jul 2009 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10249 The High Court of Madras held that rental income derived from letting out properties should be assessed under the head 'House property' and not 'Business' for the assessment year 1987-88. The court disagreed with the Income-tax Appellate Tribunal's assessment and ruled in favor of the Revenue, against the assessee, with no costs. The court also granted the assessee leave to appeal to the Supreme Court of India due to the likelihood of recurring issues in subsequent assessment years. Case-Laws Income Tax Thu, 20 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10249