https://www.taxtmi.com/caselaws?id=206846 The High Court upheld the findings of the CIT (Appeals) and Tribunal, determining that income from properties should be taxed as business income rather than rental income. The Court dismissed the Revenue's appeals on various grounds, including the deletion of 80% disallowance of expenses and depreciation, addition on account of discrepancy in the rent note, and addition of deemed dividend under Section 2(22)(e). However, the Court remitted the issue of business development expenses for the production of an opera for further consideration. The appeal was disposed of with no order as to costs. en-us Tue, 08 Nov 2011 00:00:00 +0530 Sat, 29 Jun 2013 09:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206846 The High Court upheld the findings of the CIT (Appeals) and Tribunal, determining that income from properties should be taxed as business income rather than rental income. The Court dismissed the Revenue's appeals on various grounds, including the deletion of 80% disallowance of expenses and depreciation, addition on account of discrepancy in the rent note, and addition of deemed dividend under Section 2(22)(e). However, the Court remitted the issue of business development expenses for the production of an opera for further consideration. The appeal was disposed of with no order as to costs. Case-Laws Income Tax Tue, 08 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206846