East India Housing & Land Development Trust Ltdd. v. C.I.T. (1961)| Taxation Law

East India Housing & Land Development Trust Ltd. v. C.I.T. (1961) 42 ITR 49(SC) - In the case, the Supreme Court held that the income derived by the company from shops and stalls is considered “income from property” for the purposes of Section 9 of the Income-tax Act. Nature of income cannot be alter on the face value of the receiver.