https://www.taxtmi.com/caselaws?id=472624 Rental income from unsold real-estate units held by a developer as stock-in-trade is assessable as income from house property where the units are bare-let pending sale. Ownership and the nature of exploitation govern classification under section 22: rent earned merely through letting by the owner falls under house property, whereas commercial exploitation involving substantial services may support business income. Separate provision of facility-management services, accounting rent as revenue from operations, and inclusion of letting in the objects clause do not alter the rental income's character. The rent is therefore taxable as income from house property rather than business income. en-us Tue, 22 Apr 2025 00:00:00 +0530 Sat, 17 Oct 2026 18:37:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472624 Rental income from unsold real-estate units held by a developer as stock-in-trade is assessable as income from house property where the units are bare-let pending sale. Ownership and the nature of exploitation govern classification under section 22: rent earned merely through letting by the owner falls under house property, whereas commercial exploitation involving substantial services may support business income. Separate provision of facility-management services, accounting rent as revenue from operations, and inclusion of letting in the objects clause do not alter the rental income's character. The rent is therefore taxable as income from house property rather than business income. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472624