https://www.taxtmi.com/caselaws?id=211115 The tribunal upheld the CIT (A)'s decision to classify income from license fees and parking rent as "income from other sources" rather than "income from house property" for a real estate development company. The tribunal rejected the application of the rule of consistency, emphasizing that each assessment year is distinct. Income from license fees and parking rent was deemed more fitting under "income from other sources" as per relevant sections of the Income Tax Act. The appeal was dismissed in favor of the tax authority's classification. en-us Wed, 29 Feb 2012 00:00:00 +0530 Wed, 30 Oct 2013 17:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211115 The tribunal upheld the CIT (A)'s decision to classify income from license fees and parking rent as "income from other sources" rather than "income from house property" for a real estate development company. The tribunal rejected the application of the rule of consistency, emphasizing that each assessment year is distinct. Income from license fees and parking rent was deemed more fitting under "income from other sources" as per relevant sections of the Income Tax Act. The appeal was dismissed in favor of the tax authority's classification. Case-Laws Income Tax Wed, 29 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211115