https://www.taxtmi.com/caselaws?id=13577 The High Court of Rajasthan determined that the income of M/s. Hotel Ratanada International Pvt. Ltd. for the assessment years 1981-82 and 1982-83 should be assessed under "Income from property" rather than "Income from business." Despite the company's memorandum of association mentioning business activities related to properties, the court ruled that the rental income should be categorized as property income due to incomplete hotel construction and no operational business. The court cited legal precedents and directed each party to bear their own costs as the assessee was absent during the proceedings. en-us Wed, 09 May 2007 00:00:00 +0530 Fri, 29 May 2009 18:08:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13577 The High Court of Rajasthan determined that the income of M/s. Hotel Ratanada International Pvt. Ltd. for the assessment years 1981-82 and 1982-83 should be assessed under "Income from property" rather than "Income from business." Despite the company's memorandum of association mentioning business activities related to properties, the court ruled that the rental income should be categorized as property income due to incomplete hotel construction and no operational business. The court cited legal precedents and directed each party to bear their own costs as the assessee was absent during the proceedings. Case-Laws Income Tax Wed, 09 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13577