IT : Where a company was permitted to commercially exploit property belonging to assessee and to use facilities thereon supplied by assessee, income received by assessee would constitute its business income
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[2015] 54 taxmann.com 20 (Karnataka)
HIGH COURT OF KARNATAKA
Black Pearl Hotels (P.) Ltd.
v.
Deputy Commissioner of Income-tax, Circle-11(1) Bangalore*
N. KUMAR AND B. MANOHAR, JJ.
IT APPEAL NO. 8 OF 2009†
OCTOBER 14, 2014
Section 28(i), read with section 56, of the Income-tax Act, 1961 - Business income - Chargeable as (Lease rent) - Assessment year 2002-03 - Whether where assessee was in business of taking land, putting up commercial buildings thereon and letting-out such building with all furniture, notwithstanding fact that assessee had constructed building and also provided other facilities and there were two separate rental deeds, for two types of activities, income received by assessee would not fall within heading of 'Income from House Property' - Held, yes [Para 8] [In favour of assessee]
■■■
[2015] 54 taxmann.com 20 (Karnataka)
HIGH COURT OF KARNATAKA
Black Pearl Hotels (P.) Ltd.
v.
Deputy Commissioner of Income-tax, Circle-11(1) Bangalore*
N. KUMAR AND B. MANOHAR, JJ.
IT APPEAL NO. 8 OF 2009†
OCTOBER 14, 2014
Section 28(i), read with section 56, of the Income-tax Act, 1961 - Business income - Chargeable as (Lease rent) - Assessment year 2002-03 - Whether where assessee was in business of taking land, putting up commercial buildings thereon and letting-out such building with all furniture, notwithstanding fact that assessee had constructed building and also provided other facilities and there were two separate rental deeds, for two types of activities, income received by assessee would not fall within heading of 'Income from House Property' - Held, yes [Para 8] [In favour of assessee]
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