https://www.taxtmi.com/caselaws?id=259558 The court ruled in favor of the Revenue, holding that the rental income from the godowns should be treated as income from property, not business income. Consequently, the question of the assessee's entitlement to continuation of registration as a firm became irrelevant. The court emphasized the need for continuous and systematic business activity to classify income as business income. en-us Wed, 11 Mar 2015 00:00:00 +0530 Sat, 07 Nov 2015 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259558 The court ruled in favor of the Revenue, holding that the rental income from the godowns should be treated as income from property, not business income. Consequently, the question of the assessee's entitlement to continuation of registration as a firm became irrelevant. The court emphasized the need for continuous and systematic business activity to classify income as business income. Case-Laws Income Tax Wed, 11 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259558