https://www.taxtmi.com/caselaws?id=347768 The case involved a dispute over the classification of rental income earned from a property held as stock in trade. The Revenue argued for treating the income as 'Business & Profession' income, while the Ld. CIT(A) classified it as 'House Property' income. The Ld. CIT(A) emphasized consistency in income classification, supported by legal provisions and precedents. The Tribunal upheld the Ld. CIT(A)'s decision, affirming the classification of rental income as 'House Property' income. The judgment highlighted the significance of consistency and adherence to legal provisions in determining the appropriate head of income for tax assessment. en-us Fri, 01 Sep 2017 00:00:00 +0530 Mon, 11 Sep 2017 08:35:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347768 The case involved a dispute over the classification of rental income earned from a property held as stock in trade. The Revenue argued for treating the income as 'Business & Profession' income, while the Ld. CIT(A) classified it as 'House Property' income. The Ld. CIT(A) emphasized consistency in income classification, supported by legal provisions and precedents. The Tribunal upheld the Ld. CIT(A)'s decision, affirming the classification of rental income as 'House Property' income. The judgment highlighted the significance of consistency and adherence to legal provisions in determining the appropriate head of income for tax assessment. Case-Laws Income Tax Fri, 01 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347768