https://www.taxtmi.com/caselaws?id=346512 The Court allowed exemptions for delay in filing applications in ITA No. 504/2017. The Revenue's appeal against ITAT's order for AY 2007-08 in ITA No.733 and 788/Del/2013 was addressed. The dispute centered on classifying income from properties as business income or income from house property. The Assessee historically treated the income as 'income from house property,' but the AO changed the classification. The ITAT upheld the historical treatment for two properties and remanded the third for reassessment. The Court rejected the Revenue's plea for remand, stressing the need for consistency in income treatment unless warranted by significant changes. The appeals were dismissed, affirming the historical treatment of income from properties as 'income from house property' in most instances. en-us Wed, 09 Aug 2017 00:00:00 +0530 Thu, 17 Aug 2017 08:45:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346512 The Court allowed exemptions for delay in filing applications in ITA No. 504/2017. The Revenue's appeal against ITAT's order for AY 2007-08 in ITA No.733 and 788/Del/2013 was addressed. The dispute centered on classifying income from properties as business income or income from house property. The Assessee historically treated the income as 'income from house property,' but the AO changed the classification. The ITAT upheld the historical treatment for two properties and remanded the third for reassessment. The Court rejected the Revenue's plea for remand, stressing the need for consistency in income treatment unless warranted by significant changes. The appeals were dismissed, affirming the historical treatment of income from properties as 'income from house property' in most instances. Case-Laws Income Tax Wed, 09 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346512