Section 23&56 of the Income Tax Act, 1961 — Nature of income — Income from house property or income from other sources — To record an activity as a business there must be a course of dealing which is continued or contemplated to be continued with profit motive and not for sport or pleasure. Agreements executed between the assessee and the GAIL were for leasing out the premises and for furnishing of the area leased out and for maintaining the leased out area, thus, the leasing out of the assets by the assessee simpliciter would not constitute business income. As the assessee did not carry out any systematic, recurring business activity and in organized manner, nor was there any volume, frequency, continuity and regularity of transactions and only one person was employed by him for the management and to look after the leased property, the taxing authorities rightly held the receipts to be income from house property and income from other sources and not business income — Meeraj Estate and Developers vs. Commissioner of income tax [2019] 418 ITR 681(Allahabad)