https://www.taxtmi.com/caselaws?id=1937 The High Court dismissed the appeals challenging the Income-tax Appellate Tribunal's decision to change income head from business to rental income under section 148. The Tribunal's ruling was upheld based on the absence of intention to restart the business, considering commercial asset hiring as income from property. The Court found no substantial question of law, supporting the Tribunal's detailed analysis and findings, emphasizing the legality of reassessment proceedings when statutory requirements are met. en-us Tue, 23 May 2006 00:00:00 +0530 Sat, 02 Aug 2008 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1937 The High Court dismissed the appeals challenging the Income-tax Appellate Tribunal's decision to change income head from business to rental income under section 148. The Tribunal's ruling was upheld based on the absence of intention to restart the business, considering commercial asset hiring as income from property. The Court found no substantial question of law, supporting the Tribunal's detailed analysis and findings, emphasizing the legality of reassessment proceedings when statutory requirements are met. Case-Laws Income Tax Tue, 23 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1937