2019 (4) TMI 1388

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Income as Business Income?" 2. Brief facts are as under; The Respondent-Assessee is a private limited company and is engaged in the business of leasing out of shop space in shopping malls. The assessee had filed the return with Income Tax department for the assessment year 2008­2009 declaring the income received from such activity of leasing out of shops and other commercial establishments to various persons as business income. The assessee, in addition to receiving rental income had also received certain charges from the licensees such as common amenities charges, maintenance charges, advertisement charges. The Assessing Officer held that the income was from house property and not the business income. The issue eventually reache....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... workers with tables, chairs, benches, etc. ix. Installation of common water purifier and dispensing system to provide clean & hygienic potable water. x. Installation of common rest room facilities." 3. The tribunal also noted that the charges for the facilities and utilization were included in license fees charge for leasing the shop space. The additional charges towards the costs of electricity consumed would be payable by the licensees. The period of license was for 60 months. The tribunal also noted that no space in the shopping mall was given on rent simplicitor. The tribunal therefore held that the object of the assessee to exploit the building as a business is established. The assessee had also taken loan facilit....