Income from letting out shops in mall along with various amenities is taxable as business income: HC

IT : Where assessee company had developed shopping mall and let out same by providing a variety of services, facilities and amenities in mall, it could be found that primary intention of assessee was commercial exploitation of property and where it had derived substantial part of its income by such activity, which constituted its main business, income so derived would be assessed as income from business and not as income from house property. Accordingly, it has to be assessed to tax under head '

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