https://www.taxtmi.com/caselaws?id=49490 Income from shops and stalls let out by a company formed to develop markets is taxable under the specific head of income from property, because classification under the Income-tax Act depends on the source of the receipt and the heads of income are mutually exclusive. Incidental services or the temporary nature of occupation do not change the essential character of rental receipts. Where income falls within the property head, it cannot be assessed as business profits merely because it has a connection with the company's market-development activity. en-us Wed, 02 Nov 1960 00:00:00 +0530 Mon, 01 Sep 2014 21:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49490 Income from shops and stalls let out by a company formed to develop markets is taxable under the specific head of income from property, because classification under the Income-tax Act depends on the source of the receipt and the heads of income are mutually exclusive. Incidental services or the temporary nature of occupation do not change the essential character of rental receipts. Where income falls within the property head, it cannot be assessed as business profits merely because it has a connection with the company's market-development activity. Case-Laws Income Tax Wed, 02 Nov 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49490