https://www.taxtmi.com/caselaws?id=201702 The court determined that income from the "Konny Building" should be classified as income from property, not business income, even though it was rented out to a bank on a long-term lease. The court upheld the Tribunal's decision, stating that letting out a building does not constitute a business activity. Additionally, the court affirmed the liability for interest under sections 234A and 234B based on previous decisions supporting such imposition. All appeals by the assessee were dismissed, and the liability for interest was upheld. en-us Thu, 15 Oct 2009 00:00:00 +0530 Thu, 15 Mar 2012 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201702 The court determined that income from the "Konny Building" should be classified as income from property, not business income, even though it was rented out to a bank on a long-term lease. The court upheld the Tribunal's decision, stating that letting out a building does not constitute a business activity. Additionally, the court affirmed the liability for interest under sections 234A and 234B based on previous decisions supporting such imposition. All appeals by the assessee were dismissed, and the liability for interest was upheld. Case-Laws Income Tax Thu, 15 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201702