https://www.taxtmi.com/caselaws?id=216919 The Tribunal upheld that lease rent received by the assessee was classified as business income rather than income from other sources due to its direct connection to the assessee's development activities. Additionally, rental income from letting out buildings was deemed income from house property, not business income, as it was not the primary business activity of the assessee. Interest on delayed payments was categorized as business income if linked to the assessee's main objectives. The Tribunal affirmed the decisions of the first appellate authority, dismissing the revenue's appeal and the assessee's cross objection. en-us Mon, 30 Jul 2012 00:00:00 +0530 Mon, 24 Sep 2012 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216919 The Tribunal upheld that lease rent received by the assessee was classified as business income rather than income from other sources due to its direct connection to the assessee's development activities. Additionally, rental income from letting out buildings was deemed income from house property, not business income, as it was not the primary business activity of the assessee. Interest on delayed payments was categorized as business income if linked to the assessee's main objectives. The Tribunal affirmed the decisions of the first appellate authority, dismissing the revenue's appeal and the assessee's cross objection. Case-Laws Income Tax Mon, 30 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216919