https://www.taxtmi.com/caselaws?id=240926 The Appellate Tribunal ITAT Cochin assessed income from lease rent received by the assessee for the assessment year 2006-07. Initially categorized as "income from other sources," it was later directed to be assessed under "Income from business." However, the Tribunal upheld the assessment under "Income from other sources" due to the assessee's lack of evidence to revive business activities. The revenue's appeal was treated as allowed for statistical purposes, confirming the assessment under "Income from other sources" but remanding the issue of expenses deduction for fresh examination by the Assessing Officer. en-us Thu, 31 Jan 2013 00:00:00 +0530 Sat, 14 Dec 2013 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240926 The Appellate Tribunal ITAT Cochin assessed income from lease rent received by the assessee for the assessment year 2006-07. Initially categorized as "income from other sources," it was later directed to be assessed under "Income from business." However, the Tribunal upheld the assessment under "Income from other sources" due to the assessee's lack of evidence to revive business activities. The revenue's appeal was treated as allowed for statistical purposes, confirming the assessment under "Income from other sources" but remanding the issue of expenses deduction for fresh examination by the Assessing Officer. Case-Laws Income Tax Thu, 31 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240926