Dismissing the appeal of the Revenue the Court\u00a0 held that \u00a0the\u00a0 main object of the assessee\u00a0 is\u00a0 business of constructing, owning, acquiring, developing, managing, running, hiring, letting out, selling out or leasing multiplexes, cineplexes, cinema halls, theatres, shops, shopping malls, etc., according to its memorandum and articles of association. The income was liable to be categorized as income derived from the shopping mall under the head of Income from business under section\u00a028\u00a0of the\u00a0Income-tax Act, 1961. Order of Tribunal is affirmed.\u00a0 In determining whether a particular income is income from house property or business income, in the case of\u00a0Sultan Brothers Pvt. L td. v. CIT (1964) 51 ITR 353 (SC) \u00a0the Supreme Court held that each case has to be looked at from the businessman\u2019s point of view to find out whether the letting \u00a0was the doing of business or exploitation of the property of the owner \u00a0(AY.2011-12 to 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 28(i) : Business income-Income from house property-Object of developing commercial properties-Rental income assessable as business income. [S. 22, 260A].<\/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":[21],"tags":[],"class_list":["post-51664","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dri","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51664","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=51664"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51664\/revisions"}],"predecessor-version":[{"id":51665,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51664\/revisions\/51665"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=51664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=51664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=51664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}