https://www.taxtmi.com/caselaws?id=261200 The Tribunal upheld the reopening of the assessment under Section 148 of the Income-tax Act, 1961, as the initial processing under Section 143(1) did not involve opinion formation by the Assessing Officer. However, the classification of rental income as business income or income from house property was remitted back to the AO for fresh examination based on the nature of the business activities, following the Supreme Court precedent. The appeal was allowed for statistical purposes, directing reassessment of the rental income classification and assessment reopening validity. en-us Fri, 26 Jun 2015 00:00:00 +0530 Mon, 06 Jul 2015 06:40:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261200 The Tribunal upheld the reopening of the assessment under Section 148 of the Income-tax Act, 1961, as the initial processing under Section 143(1) did not involve opinion formation by the Assessing Officer. However, the classification of rental income as business income or income from house property was remitted back to the AO for fresh examination based on the nature of the business activities, following the Supreme Court precedent. The appeal was allowed for statistical purposes, directing reassessment of the rental income classification and assessment reopening validity. Case-Laws Income Tax Fri, 26 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261200