https://www.taxtmi.com/caselaws?id=345667 The Bombay High Court upheld the decisions of the Commissioner (Appeals) and the Tribunal, concluding that the income received by the Respondent from rent should be classified as business income. The Court emphasized the importance of considering the main object of the Company and the nature of its activities in determining the classification of income. The historical acceptance of the income as business income by the Assessing Officer, along with the commercial exploitation of the property through complex commercial activities, supported this classification. The Appeals were dismissed, with no substantial question of Law identified, and no costs awarded. en-us Tue, 18 Jul 2017 00:00:00 +0530 Thu, 07 Feb 2019 10:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345667 The Bombay High Court upheld the decisions of the Commissioner (Appeals) and the Tribunal, concluding that the income received by the Respondent from rent should be classified as business income. The Court emphasized the importance of considering the main object of the Company and the nature of its activities in determining the classification of income. The historical acceptance of the income as business income by the Assessing Officer, along with the commercial exploitation of the property through complex commercial activities, supported this classification. The Appeals were dismissed, with no substantial question of Law identified, and no costs awarded. Case-Laws Income Tax Tue, 18 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345667