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TMI Blog2005 (1) TMI 36X X X X Extracts X X X X X X X X Extracts X X X X ..... operties should be assessed under the head 'Business' thereby allowing the expenses incurred for letting out of properties as business expenditure?" - held that the income derived from letting out the property should be assessed as income from the "house property" and not under the head "Business" - we answer the question of law referred to us in the negative, in favour of the Revenue and against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es. In the assessment proceedings for the said assessment year, the rental income derived by the assessee-company was assessed under the head "House property", which was objected to by the assessee. The assessee carried the matter in appeal before the Commissioner of Income-tax (Appeals), and the said authority allowed the appeal holding that the income from the property should be assessed under t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 266 ITR 685, held that the income derived from letting out the property should be assessed as income from the "house property" and not under the head "Business". Following the same, we hold that the Tribunal was not correct in holding that the rental income from the property should be assessed under the head "Business" as there is no dispute that the factual situation remains the same as that of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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