https://www.taxtmi.com/caselaws?id=335237 The Court determined that the rental income derived from a commercial complex should be classified as income from business rather than income from house property. By referencing relevant Supreme Court judgments, the Court emphasized that the nature of the activity, whether for business purposes or property exploitation, dictates the income classification. The appellant successfully argued that income from a building constructed for revenue generation should be considered business income. Consequently, the Court ruled in favor of the appellant, overturning the previous classification by the Assessing Officer and holding that the rental income should be treated as business income. en-us Fri, 18 Nov 2016 00:00:00 +0530 Mon, 28 Nov 2016 13:09:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335237 The Court determined that the rental income derived from a commercial complex should be classified as income from business rather than income from house property. By referencing relevant Supreme Court judgments, the Court emphasized that the nature of the activity, whether for business purposes or property exploitation, dictates the income classification. The appellant successfully argued that income from a building constructed for revenue generation should be considered business income. Consequently, the Court ruled in favor of the appellant, overturning the previous classification by the Assessing Officer and holding that the rental income should be treated as business income. Case-Laws Income Tax Fri, 18 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335237