Wednesday 26 August 2015

Income earned by a warehousing corporation from letting out warehouse is taxable as business income

IT : Where assessee was engaged in business of warehousing, handling and transport business and it showed income earned from letting out of warehouses and godowns as income from business, since primary source of income of assessee was letting out of godowns and warehouses to traders carrying on warehousing business, income was assessable as business income

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