https://www.taxtmi.com/caselaws?id=391769 Rental receipts from warehouses or other properties are assessable as business income where the real nature of the assessee's activity shows that letting is itself the business, or the properties are exploited as commercial assets in the course of that business. Classification turns on the object and manner of exploitation, not mere ownership, and the income-tax heads are not watertight compartments. The court followed the settled Supreme Court principle and rejected a contrary view based on a reversed decision. The rental income in both matters was therefore taxable as business income, not as income from house property. en-us Thu, 30 Jan 2020 00:00:00 +0530 Mon, 22 Jun 2020 14:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391769 Rental receipts from warehouses or other properties are assessable as business income where the real nature of the assessee's activity shows that letting is itself the business, or the properties are exploited as commercial assets in the course of that business. Classification turns on the object and manner of exploitation, not mere ownership, and the income-tax heads are not watertight compartments. The court followed the settled Supreme Court principle and rejected a contrary view based on a reversed decision. The rental income in both matters was therefore taxable as business income, not as income from house property. Case-Laws Income Tax Thu, 30 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391769