https://www.taxtmi.com/caselaws?id=66149 The Tribunal ruled in favor of the assessee, determining that the lease income should be classified as business income rather than income from other sources. It found that the assets were used for business purposes and that the assessee had not abandoned its business but intended to resume operations. The Tribunal admitted new evidence at the appellate stage and considered relevant legal precedents, ultimately allowing the appeals and directing the lease income to be treated as business income for the specified assessment years. en-us Mon, 30 Jun 1986 00:00:00 +0530 Mon, 21 Feb 2011 17:53:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66149 The Tribunal ruled in favor of the assessee, determining that the lease income should be classified as business income rather than income from other sources. It found that the assets were used for business purposes and that the assessee had not abandoned its business but intended to resume operations. The Tribunal admitted new evidence at the appellate stage and considered relevant legal precedents, ultimately allowing the appeals and directing the lease income to be treated as business income for the specified assessment years. Case-Laws Income Tax Mon, 30 Jun 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66149