https://www.taxtmi.com/caselaws?id=248422 The Tribunal upheld the assessment treating the income as property income rather than business income for a company deriving revenue solely from property rental. The company's claim for deduction of administrative expenses against rental income was denied due to the absence of evidence of commercial activity. The Tribunal emphasized the importance of the primary intention behind property exploitation in determining income nature and affirmed that income falling under one category cannot be taxed under another. The appeal was dismissed, supporting the CIT(A)'s decision. en-us Tue, 27 May 2014 00:00:00 +0530 Thu, 12 Jun 2014 11:01:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248422 The Tribunal upheld the assessment treating the income as property income rather than business income for a company deriving revenue solely from property rental. The company's claim for deduction of administrative expenses against rental income was denied due to the absence of evidence of commercial activity. The Tribunal emphasized the importance of the primary intention behind property exploitation in determining income nature and affirmed that income falling under one category cannot be taxed under another. The appeal was dismissed, supporting the CIT(A)'s decision. Case-Laws Income Tax Tue, 27 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248422