Income from a market complex constructed for commercial exploitation is taxable as business income and not as income from house property.
The facts of the case are that the bank took cognizance of the commercial viability of the project to grant loan, partners pooled their resources to repay the loan and assessee let out the property to the commercial organizations for earning income. In this case the Tribunal held that the income is taxable as income from business and not income from house property - NARAYAN MARKET COMPLEX v. ITO [2012] 20
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