https://www.taxtmi.com/caselaws?id=447130 The HC held that income from sub-licensing shops with ancillary services constitutes business income under Section 28, not house property income under Section 22. The assessee company obtained space under a leave and licence agreement and sub-licensed it to multiple parties with composite services for monthly consideration. Despite the ITAT's contrary finding, the HC determined that based on the company's memorandum of association, business activities, and consistent departmental treatment in prior years, the income qualified as business income. The court applied SC precedents and noted the assessing officer's own finding that the assessee was engaged in real estate business. Appeal allowed. en-us Fri, 15 Dec 2023 00:00:00 +0530 Mon, 18 Dec 2023 16:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447130 The HC held that income from sub-licensing shops with ancillary services constitutes business income under Section 28, not house property income under Section 22. The assessee company obtained space under a leave and licence agreement and sub-licensed it to multiple parties with composite services for monthly consideration. Despite the ITAT's contrary finding, the HC determined that based on the company's memorandum of association, business activities, and consistent departmental treatment in prior years, the income qualified as business income. The court applied SC precedents and noted the assessing officer's own finding that the assessee was engaged in real estate business. Appeal allowed. Case-Laws Income Tax Fri, 15 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447130