Following the rule of consistency, rental income of the assessee from the properties forming stock-in-trade would be income from house property and not business income. (AY. 1995-96 to 2009-10) (ITA No. 210 of 2003; dt. 20.03.2019)
CIT v. Gopal Das Estates & Housing (P) Ltd. (2019) 308 CTR 201 (Delhi)(HC)
S. 22 : Income from house property–Rental income from letting out of stock-in-trade was consistently held to be taxable under the head income from house property–Held, consistency principle to be followed. [S. 28(i)].