https://www.taxtmi.com/caselaws?id=240401 The Tribunal classified rent received from fit-outs, fixtures, and equipment as 'business income' rather than 'income from house property', based on distinct rent fixed for them. Maintenance charges were also categorized as 'business income' for services rendered to tenants. The Tribunal directed the AO to properly adjudicate the disallowed professional charges, interest, and other expenses, as well as the rent paid to the guest house. The assessee's appeals for AY 2006-07 and 2007-08 were allowed, with the Revenue's appeal for AY 2007-08 allowed for statistical purposes, leading to a remand for further consideration on specific issues. en-us Fri, 29 Nov 2013 00:00:00 +0530 Tue, 03 Dec 2013 06:44:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240401 The Tribunal classified rent received from fit-outs, fixtures, and equipment as 'business income' rather than 'income from house property', based on distinct rent fixed for them. Maintenance charges were also categorized as 'business income' for services rendered to tenants. The Tribunal directed the AO to properly adjudicate the disallowed professional charges, interest, and other expenses, as well as the rent paid to the guest house. The assessee's appeals for AY 2006-07 and 2007-08 were allowed, with the Revenue's appeal for AY 2007-08 allowed for statistical purposes, leading to a remand for further consideration on specific issues. Case-Laws Income Tax Fri, 29 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240401