https://www.taxtmi.com/caselaws?id=26412 The High Court ruled in favor of assessing the income derived by a private limited company from renting out a building constructed on a leased site under the head "Property" and not "Business." The decision was based on the company becoming the owner of the building during the lease period, following analysis of lease terms and relevant precedents. The Court disagreed with a contrary view from another High Court, emphasizing the importance of property ownership in determining the nature of income. No costs were awarded in this case. en-us Tue, 01 Jul 1986 00:00:00 +0530 Thu, 04 Feb 2010 17:56:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26412 The High Court ruled in favor of assessing the income derived by a private limited company from renting out a building constructed on a leased site under the head "Property" and not "Business." The decision was based on the company becoming the owner of the building during the lease period, following analysis of lease terms and relevant precedents. The Court disagreed with a contrary view from another High Court, emphasizing the importance of property ownership in determining the nature of income. No costs were awarded in this case. Case-Laws Income Tax Tue, 01 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26412