Wednesday, 9 July 2014

Rent from letting out a small portion of space is business income if assessee occupies other portion

IT: Where assessee owning a shopping mall, let out a small portion of said mall, in view of fact that after a short period let out portion of mall had been taken back and, moreover, in major portion of said premises assessee was already carrying out his own business, rental income derived from shopping mall was to be taxed as business income


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