https://www.taxtmi.com/caselaws?id=9601 The High Court upheld the Tribunal's decision to treat rental income from letting out business assets as business income rather than income from house property. The Court emphasized the company's intention to maintain the properties for future business use and its continuous business activities, aligning with established legal principles regarding the classification of rental income based on the nature of asset utilization and temporary arrangements. The ruling favored the assessee, affirming that the rental income should be assessed as business income, not income from house property. en-us Mon, 28 Feb 2005 00:00:00 +0530 Sat, 27 Jun 2009 19:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9601 The High Court upheld the Tribunal's decision to treat rental income from letting out business assets as business income rather than income from house property. The Court emphasized the company's intention to maintain the properties for future business use and its continuous business activities, aligning with established legal principles regarding the classification of rental income based on the nature of asset utilization and temporary arrangements. The ruling favored the assessee, affirming that the rental income should be assessed as business income, not income from house property. Case-Laws Income Tax Mon, 28 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9601