https://www.taxtmi.com/caselaws?id=330778 The Court found the reopening of assessments for the Assessment Years 1990-91 to 1993-94 invalid under Sections 147 and 148 of the Income Tax Act, as the Assessing Officer lacked sufficient reasons to believe income had escaped assessment. Additionally, the Court determined that the income derived from licensing part of the premises should be classified as business income rather than income from house property. The Court ruled in favor of the Assessee, setting aside the ITAT's decision and confirming the treatment of the license fee as business income for the relevant years. en-us Mon, 01 Aug 2016 00:00:00 +0530 Thu, 17 Nov 2016 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330778 The Court found the reopening of assessments for the Assessment Years 1990-91 to 1993-94 invalid under Sections 147 and 148 of the Income Tax Act, as the Assessing Officer lacked sufficient reasons to believe income had escaped assessment. Additionally, the Court determined that the income derived from licensing part of the premises should be classified as business income rather than income from house property. The Court ruled in favor of the Assessee, setting aside the ITAT's decision and confirming the treatment of the license fee as business income for the relevant years. Case-Laws Income Tax Mon, 01 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330778