https://www.taxtmi.com/caselaws?id=193745 The Tribunal determined the rental income of Rs. 20,83,413 from letting out a corporate office and quarters as "income from house property" based on the lease agreement, rejecting the argument for business income classification. Additionally, the rental income of Rs. 4,20,000 from letting out an MD Office was classified as business income rather than "income from other sources," as established by the property's regular rental income. The Tribunal upheld the classification of income based on the nature and usage of the properties, dismissing the revenue's appeal and partially allowing the assessee's appeal. en-us Tue, 25 Oct 2016 00:00:00 +0530 Fri, 18 Aug 2017 08:35:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193745 The Tribunal determined the rental income of Rs. 20,83,413 from letting out a corporate office and quarters as "income from house property" based on the lease agreement, rejecting the argument for business income classification. Additionally, the rental income of Rs. 4,20,000 from letting out an MD Office was classified as business income rather than "income from other sources," as established by the property's regular rental income. The Tribunal upheld the classification of income based on the nature and usage of the properties, dismissing the revenue's appeal and partially allowing the assessee's appeal. Case-Laws Income Tax Tue, 25 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193745