https://www.taxtmi.com/caselaws?id=57812 Receipts from letting a commercially developed complex, together with organised facility and service charges, were treated as business income because the asset was held and exploited as part of a business venture rather than as an owner's investment. The decisive principle was that where property is acquired or used as a commercial asset in the course of trading activity, the resulting income follows that commercial character. Accordingly, lease rentals and maintenance receipts were assessable as business income and not as income from house property. en-us Fri, 17 Sep 2004 00:00:00 +0530 Mon, 13 Dec 2010 17:11:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57812 Receipts from letting a commercially developed complex, together with organised facility and service charges, were treated as business income because the asset was held and exploited as part of a business venture rather than as an owner's investment. The decisive principle was that where property is acquired or used as a commercial asset in the course of trading activity, the resulting income follows that commercial character. Accordingly, lease rentals and maintenance receipts were assessable as business income and not as income from house property. Case-Laws Income Tax Fri, 17 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57812