{"id":12070,"date":"2020-09-02T13:02:33","date_gmt":"2020-09-02T13:02:33","guid":{"rendered":"http:\/\/itatonline.org\/digest\/psts-heavy-lift-and-shift-ltd-v-dy-cit-2020422-itr-497-107-cch-0454-madhc\/"},"modified":"2021-04-26T09:46:11","modified_gmt":"2021-04-26T04:16:11","slug":"psts-heavy-lift-and-shift-ltd-v-dy-cit-2020422-itr-497-107-cch-0454-madhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/psts-heavy-lift-and-shift-ltd-v-dy-cit-2020422-itr-497-107-cch-0454-madhc\/","title":{"rendered":"PSTS Heavy Lift and Shift Ltd. v .Dy. CIT (2020)422 ITR 497 \/107 CCH 0454 \/193 DTR 193\/ 317 CTR 172 (Mad)(HC)"},"content":{"rendered":"<p>The issue before the high Court was whether rental income can be assessed as income from business or income from house property . Court held that it will depend upon the facts of each case and whether such income is earned by the assessee by way of utilisation of its business assets in the form of property in question or as an idle property which could yield rental income. Even the amended definition under section\u00a022\u00a0of the\u00a0Income-tax Act, 1961\u00a0intends to tax the notional income from the self occupied portion of the property to run the assessee\u2019s own business therein as business income. Considering the facts of the case the case the Court held that \u00a0it was not in dispute that the exclusive and main source of income of the assessee was only the rentals and lease money received from the lessees. The income received was assessable as business income.( AY. 1999-2000, 2000-01, 2001-02, 2005-06)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.28(i) : Business income \u2014 Income from house property \u2014Main business is let out of property \u2013 Income assessable as business income [ S.22 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12070","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-38G","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=12070"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12070\/revisions"}],"predecessor-version":[{"id":17302,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12070\/revisions\/17302"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}