The assessee set up a commercial complex-cum-shopping mall and the operations commenced during the financial year 2009-10. The assessee let out various shops in this commercial complex dealing with various products. Apart from letting out the premises, the assessee provided various services to the occupants of the premises such as security services, housekeeping, maintenance, lighting, repairs to air conditioners, marketing and promotional activities, advertisement and such other activities. The premises were let out on leave and licence basis, and the compensation was based on revenue sharing basis. The assessee declared its income under the head income from business. The AO treated it as income from house property. CIT (A) up held the order of the AO. Tribunal up held the contention of the assessee. On appeal dismissing the appeal of the revenue the Court held that  the object of the assessee was clearly to acquire, develop, and let out the commercial complex. The assessee provided even marketing and promotional activities. The intention of the assessee was a material circumstance and the objects of association, and the kind of services rendered clearly pointed out that the income was from business. All the factors cumulatively taken demonstrated that the assessee had intended to enter into a business of renting out commercial space to interested parties. The findings rendered by the Tribunal on assessment of the factual position before it that the income in question had to be treated as business income was justified.( AY.2010-11)