https://www.taxtmi.com/caselaws?id=328177 The Tribunal upheld the CIT(A)'s decision, classifying lease receipts and maintenance income as 'business income.' The Revenue's appeal was dismissed, emphasizing the commercial nature of the assessee's activities in developing and leasing specialized biotech lab spaces. The Tribunal considered the intention behind the lease agreements and the unique facilities provided, concluding that the income should be assessed as business income based on judicial precedents and the nature of the activities conducted by the assessee. en-us Fri, 29 Apr 2016 00:00:00 +0530 Sat, 28 May 2016 08:38:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328177 The Tribunal upheld the CIT(A)'s decision, classifying lease receipts and maintenance income as 'business income.' The Revenue's appeal was dismissed, emphasizing the commercial nature of the assessee's activities in developing and leasing specialized biotech lab spaces. The Tribunal considered the intention behind the lease agreements and the unique facilities provided, concluding that the income should be assessed as business income based on judicial precedents and the nature of the activities conducted by the assessee. Case-Laws Income Tax Fri, 29 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328177