Court Rules Rental Income as Business Income per Assessee's Main Objective in Memorandum of Association. https://www.taxtmi.com/highlights?id=54773 Correct head of income - Rental income - where, in the terms of memorandum of association, the main object of the assessee given was to acquire properties and earn income by letting out the same, such income was brought to books as business income and not as income from house properties - HC en-us Tue, 15 Sep 2020 12:37:50 +0530 Tue, 15 Sep 2020 12:37:50 +0530 TaxTMI RSS Generator Court Rules Rental Income as Business Income per Assessee's Main Objective in Memorandum of Association. https://www.taxtmi.com/highlights?id=54773 Correct head of income - Rental income - where, in the terms of memorandum of association, the main object of the assessee given was to acquire properties and earn income by letting out the same, such income was brought to books as business income and not as income from house properties - HC Highlights Income Tax Tue, 15 Sep 2020 12:37:50 +0530 https://www.taxtmi.com/highlights?id=54773