Dismissing the appeal the Court held that since assessee had given only commercial space on a license basis, rental income received thereon was to be assessed under head business income. (AY. 2001-02 to 2006-07)
CIT v. G.V. Foundations P. Ltd. (2022) 287 Taxman 140/113 CCH 311 (Mad.)(HC)
S. 28(i) : Business income-Letting out of properties along with other amenities-Rental income assessable as business income and not as income from house property [S. 22].