https://www.taxtmi.com/caselaws?id=206879 The Bombay High Court upheld the Tribunal's decision to assess lease rental income under "income from business" rather than "income from other sources." The Court emphasized that the lease period's expiry does not change the income's character. Consequently, the Court did not address the depreciation claim issue, deeming it irrelevant after affirming the income characterization. The judgment underscores consistent tax law application and factual findings' significance in determining tax treatment. en-us Tue, 27 Sep 2011 00:00:00 +0530 Sat, 19 Nov 2011 06:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206879 The Bombay High Court upheld the Tribunal's decision to assess lease rental income under "income from business" rather than "income from other sources." The Court emphasized that the lease period's expiry does not change the income's character. Consequently, the Court did not address the depreciation claim issue, deeming it irrelevant after affirming the income characterization. The judgment underscores consistent tax law application and factual findings' significance in determining tax treatment. Case-Laws Income Tax Tue, 27 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206879