https://www.taxtmi.com/caselaws?id=751572 The MP HC affirmed ITAT's decision that income from leasing properties in a shopping-cum-entertainment mall constitutes business income rather than house property income. The court held that where letting out property is the main object of a company, income must be computed under business head. The assessee consistently offered income from constructing, owning, developing, managing and leasing multiplex, cineplex, cinema halls and shopping malls as business income. The AO failed to establish that sub-leasing was merely incidental to the company's predominant business object. ITAT's factual findings attained finality as the last forum for factual determination, with no perversity demonstrated. en-us Tue, 16 Apr 2024 00:00:00 +0530 Mon, 20 Jan 2025 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751572 The MP HC affirmed ITAT's decision that income from leasing properties in a shopping-cum-entertainment mall constitutes business income rather than house property income. The court held that where letting out property is the main object of a company, income must be computed under business head. The assessee consistently offered income from constructing, owning, developing, managing and leasing multiplex, cineplex, cinema halls and shopping malls as business income. The AO failed to establish that sub-leasing was merely incidental to the company's predominant business object. ITAT's factual findings attained finality as the last forum for factual determination, with no perversity demonstrated. Case-Laws Income Tax Tue, 16 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751572