Supreme Court Affirms Rental Income as Business Profits, Aligns with Chennai Properties Precedent, Upholds CIT(A) Ruling.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Taxability of rental income - The undisputed fact is that the ratio laid down in the case of Chennai Properties and Investments [2015 (5) TMI 46 - SUPREME COURT] squarely apply on the facts of the case, therefore, there is no error or infirmity in the decision of the CIT(A) wherein rental income has been taxed under the head profits and gains of business or profession. - AT....