https://www.taxtmi.com/caselaws?id=238189 The Income Tax Appellate Tribunal (ITAT) partially allowed the assessee's appeal, determining that the compensation received under the conducting agreement was not business income but taxable under "income from other sources." The ITAT directed the assessee to segregate the compensation, with the portion related to building premises taxable under "income from house property" and the rest under "income from other sources." The ITAT upheld the disallowance of expenses by the assessing officer (A.O.) as the receipts were not classified as business income, dismissing ground 5 of the appeal. en-us Fri, 11 Oct 2013 00:00:00 +0530 Fri, 18 Oct 2013 13:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238189 The Income Tax Appellate Tribunal (ITAT) partially allowed the assessee's appeal, determining that the compensation received under the conducting agreement was not business income but taxable under "income from other sources." The ITAT directed the assessee to segregate the compensation, with the portion related to building premises taxable under "income from house property" and the rest under "income from other sources." The ITAT upheld the disallowance of expenses by the assessing officer (A.O.) as the receipts were not classified as business income, dismissing ground 5 of the appeal. Case-Laws Income Tax Fri, 11 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238189