https://www.taxtmi.com/caselaws?id=121482 The Tribunal ruled in favor of the assessee, determining that the income from leasing commercial premises and operating business centers should be classified as business income due to the commercial nature of the activities and the inseparability of services provided from property letting. Consequently, the Tribunal allowed depreciation on buildings and upheld the deduction of operating, administrative, and personnel expenses as business expenditures. The revenue's appeal was dismissed, and the cross-objection by the assessee was deemed infructuous, affirming the commercial intent and use of the property as business assets. en-us Mon, 06 Apr 2009 00:00:00 +0530 Sat, 21 Oct 2023 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121482 The Tribunal ruled in favor of the assessee, determining that the income from leasing commercial premises and operating business centers should be classified as business income due to the commercial nature of the activities and the inseparability of services provided from property letting. Consequently, the Tribunal allowed depreciation on buildings and upheld the deduction of operating, administrative, and personnel expenses as business expenditures. The revenue's appeal was dismissed, and the cross-objection by the assessee was deemed infructuous, affirming the commercial intent and use of the property as business assets. Case-Laws Income Tax Mon, 06 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121482