sivadas chettoor
(CA)
(2644 Points)
Replied 23 February 2010
You may please make a reference to the Kerala High Court decision in Attukal Shopping Complex case wherein the Hon Court directed bifurcation of rent between Sec 28 and Sec 56. Where the intention is clearly to expploit the property for commercial advantage as dictinct fro mere enjoyment of rental income, some courts have taken the view that it is business income.
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siva208 @ yahoo.com
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 23 February 2010
The Act itself provides that even if commercial property is let out, the Income shall be considered under Income From House Property.
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