[aaykarbhavan] Rental income taxable as business income if main object of Co. as per MOA is to earn income by letting out properties

 

Rental income taxable as business income if main object of Co. as per MOA is to earn income by letting out properties

May 1, 2015[2015] 56 taxmann.com 456 (SC)

IT : Where in terms of memorandum of association, main object of assessee-company was to acquire properties and earn income by letting out same, said income was to be brought to tax as business income and not as income from house property

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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