Held that the main objects of assessee company was to construct, acquire, hold buildings, tenements and such other movable and immovable property and to rent, let on hire and manage immovable property, income earned by assessee from letting out of property would be assessable under head income from business. (AY. 2015-16)
ACIT v. Tupelo Builders (P.) Ltd. (2023) 199 ITD 58 / 221 TTJ 192 (Delhi)(Trib)
S. 28(i) : Business income-Letting out properties-Assessable as income from business and not as income from house property.[S.22)