https://www.taxtmi.com/caselaws?id=12271 Rental income derived from the letting of owned warehouses was held to fall under the head of income from house property because the source of receipt was ownership and letting of the property. The assessee's object of commercially exploiting the warehouses did not change the character of the income, as the heads of income are mutually exclusive and property income cannot be reclassified as business income merely on that basis. Temporary or continuing occupation by a lessee also did not alter the tax character of the receipt. The issue was therefore answered in favour of the Revenue, and the income was taxable as house property income, not business income. en-us Mon, 02 Sep 2002 00:00:00 +0530 Thu, 08 Jan 2026 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12271 Rental income derived from the letting of owned warehouses was held to fall under the head of income from house property because the source of receipt was ownership and letting of the property. The assessee's object of commercially exploiting the warehouses did not change the character of the income, as the heads of income are mutually exclusive and property income cannot be reclassified as business income merely on that basis. Temporary or continuing occupation by a lessee also did not alter the tax character of the receipt. The issue was therefore answered in favour of the Revenue, and the income was taxable as house property income, not business income. Case-Laws Income Tax Mon, 02 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12271