PCIT v. M.P. Entertainment and Developers (P.) Ltd. (2024) 299 Taxman 211 (MP)(HC)

S. 28(i) : Business income-Rental income-Sub-letting of mall could not be assessed as income from house property and same was to be assessed as income from business. [S. 22]

Assessee-company’s main object was business of constructing, owning, acquiring, developing, managing, running, hiring, letting out, selling out or leasing shopping mall. It derived rental income by letting out properties in mall. Rental income received by assessee from sub-letting of mall could not be assessed as income from house property and same was to be assessed as income from business.  (AY. 2011-12)