https://www.taxtmi.com/caselaws?id=346135 The High Court of Bombay upheld the Tribunal's decision to treat income from the lease of a hotel as business income, based on the agreement and nature of income. The appeal challenging the characterization of income and the determination of fair market value was dismissed, with the third issue regarding Rule 8D not pursued. Consequently, the appeal was dismissed without costs. en-us Mon, 31 Jul 2017 00:00:00 +0530 Fri, 04 Aug 2017 07:08:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346135 The High Court of Bombay upheld the Tribunal's decision to treat income from the lease of a hotel as business income, based on the agreement and nature of income. The appeal challenging the characterization of income and the determination of fair market value was dismissed, with the third issue regarding Rule 8D not pursued. Consequently, the appeal was dismissed without costs. Case-Laws Income Tax Mon, 31 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346135