https://www.taxtmi.com/caselaws?id=182596 The court upheld the Income Tax Appellate Tribunal's decision, classifying income from lease charges and export proceeds as business income under Section 80 HHC of the Income Tax Act. It rejected the Commissioner's reclassification under Section 263, emphasizing that the Assessing Officer's view was not erroneous and that the income was connected to the business. The court dismissed the appeals, ruling in favor of the assessee and against the revenue for both assessment years without awarding costs. en-us Wed, 29 Apr 2015 00:00:00 +0530 Sat, 14 May 2016 10:22:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182596 The court upheld the Income Tax Appellate Tribunal's decision, classifying income from lease charges and export proceeds as business income under Section 80 HHC of the Income Tax Act. It rejected the Commissioner's reclassification under Section 263, emphasizing that the Assessing Officer's view was not erroneous and that the income was connected to the business. The court dismissed the appeals, ruling in favor of the assessee and against the revenue for both assessment years without awarding costs. Case-Laws Income Tax Wed, 29 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182596