https://www.taxtmi.com/caselaws?id=205289 The Tribunal held that the rental income derived from immovable properties should be categorized as income from house property, not business income. Despite the assessee being engaged in both tobacco business and property rental, the Tribunal emphasized that the nature of rental income depends on the intention at the time of letting out the property. It found no evidence to support treating the rental income as business income and distinguished the case from precedents where additional amenities were provided to tenants. Consequently, the Tribunal set aside the CIT(A)'s decision and reinstated the assessing officer's classification, ruling in favor of the revenue. en-us Tue, 07 Dec 2010 00:00:00 +0530 Wed, 20 Jul 2011 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205289 The Tribunal held that the rental income derived from immovable properties should be categorized as income from house property, not business income. Despite the assessee being engaged in both tobacco business and property rental, the Tribunal emphasized that the nature of rental income depends on the intention at the time of letting out the property. It found no evidence to support treating the rental income as business income and distinguished the case from precedents where additional amenities were provided to tenants. Consequently, the Tribunal set aside the CIT(A)'s decision and reinstated the assessing officer's classification, ruling in favor of the revenue. Case-Laws Income Tax Tue, 07 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205289