https://www.taxtmi.com/caselaws?id=328939 The court upheld the Income Tax Appellate Tribunal's decision to classify income derived from letting out industrial sheds as 'income from house property' rather than 'income from business.' The court emphasized the consistent treatment of the rental income in past assessments and dismissed the Revenue's appeal, noting that the legal precedents cited were not applicable to the unique circumstances of the case. The classification as 'income from house property' was affirmed based on the assessee's intention to earn rental income. en-us Tue, 31 May 2016 00:00:00 +0530 Sat, 18 Jun 2016 09:03:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328939 The court upheld the Income Tax Appellate Tribunal's decision to classify income derived from letting out industrial sheds as 'income from house property' rather than 'income from business.' The court emphasized the consistent treatment of the rental income in past assessments and dismissed the Revenue's appeal, noting that the legal precedents cited were not applicable to the unique circumstances of the case. The classification as 'income from house property' was affirmed based on the assessee's intention to earn rental income. Case-Laws Income Tax Tue, 31 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328939