https://www.taxtmi.com/caselaws?id=214350 The Tribunal found that the rental income from letting out Industrial Park buildings should be treated as business income rather than income from house property. The assessee was deemed engaged in the business of developing and operating an industrial park. However, the case required further verification regarding the industrial park's official recognition and the predominant activity of the assessee. The Tribunal remanded the issue to the Assessing Officer for proper verification and re-adjudication, allowing the assessee a fair opportunity to present their case. All appeals of the Revenue were allowed for statistical purposes. en-us Fri, 18 Nov 2011 00:00:00 +0530 Thu, 28 Jun 2012 08:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214350 The Tribunal found that the rental income from letting out Industrial Park buildings should be treated as business income rather than income from house property. The assessee was deemed engaged in the business of developing and operating an industrial park. However, the case required further verification regarding the industrial park's official recognition and the predominant activity of the assessee. The Tribunal remanded the issue to the Assessing Officer for proper verification and re-adjudication, allowing the assessee a fair opportunity to present their case. All appeals of the Revenue were allowed for statistical purposes. Case-Laws Income Tax Fri, 18 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214350