https://www.taxtmi.com/caselaws?id=285041 Property exploitation through organised commercial activity can produce business income where the assessee leases a partly constructed building, carries out alterations, secures finance, and arranges a tenant for enhanced rent; the rental receipts were therefore treated as business income with consequential set-off. Interest on the additional advance of Rs. 2,50,000 was also allowed because the advance formed part of the same business arrangement, and the absence of a separate written variation did not defeat the commercial purpose. Directors' remuneration was accepted as reasonable and not excessive. By contrast, scooter and cycle parking charges paid to the HUF were disallowed because they were outside the agreement and not shown to be wholly and exclusively justified. en-us Wed, 23 Sep 1987 00:00:00 +0530 Mon, 23 Dec 2019 15:43:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285041 Property exploitation through organised commercial activity can produce business income where the assessee leases a partly constructed building, carries out alterations, secures finance, and arranges a tenant for enhanced rent; the rental receipts were therefore treated as business income with consequential set-off. Interest on the additional advance of Rs. 2,50,000 was also allowed because the advance formed part of the same business arrangement, and the absence of a separate written variation did not defeat the commercial purpose. Directors' remuneration was accepted as reasonable and not excessive. By contrast, scooter and cycle parking charges paid to the HUF were disallowed because they were outside the agreement and not shown to be wholly and exclusively justified. Case-Laws Income Tax Wed, 23 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285041