https://www.taxtmi.com/caselaws?id=336106 The Tribunal classified warehousing receipts as 'Income from business', overturning the Assessing Officer and CIT(A)'s classification as 'Income from house property'. Citing precedent and the nature of the assessee's activities, the Tribunal held the income should be taxed as 'business income'. Consequently, the appeal was allowed, implicitly allowing related expenses like bank interest and taxes paid on the godown. The order was pronounced on November 11, 2016. en-us Fri, 11 Nov 2016 00:00:00 +0530 Fri, 16 Dec 2016 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336106 The Tribunal classified warehousing receipts as 'Income from business', overturning the Assessing Officer and CIT(A)'s classification as 'Income from house property'. Citing precedent and the nature of the assessee's activities, the Tribunal held the income should be taxed as 'business income'. Consequently, the appeal was allowed, implicitly allowing related expenses like bank interest and taxes paid on the godown. The order was pronounced on November 11, 2016. Case-Laws Income Tax Fri, 11 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336106