https://www.taxtmi.com/caselaws?id=27813 The High Court determined that the godown rent received by the assessee should be classified as 'Income from house property' rather than 'Profits and gains of business or profession'. The court emphasized that income derived from property should be categorized as 'Income from house property' regardless of the business activities of the assessee. The court directed the Tribunal to assess the annual value of the godown accordingly, ruling in favor of the assessee and ordering the Revenue to cover the costs of the reference. en-us Fri, 02 Sep 1983 00:00:00 +0530 Tue, 16 Feb 2010 12:04:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27813 The High Court determined that the godown rent received by the assessee should be classified as 'Income from house property' rather than 'Profits and gains of business or profession'. The court emphasized that income derived from property should be categorized as 'Income from house property' regardless of the business activities of the assessee. The court directed the Tribunal to assess the annual value of the godown accordingly, ruling in favor of the assessee and ordering the Revenue to cover the costs of the reference. Case-Laws Income Tax Fri, 02 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27813