https://www.taxtmi.com/caselaws?id=10076 The High Court of Madras remitted a case back to the Appellate Tribunal for reconsideration regarding the classification of rental income from a property. The Tribunal had classified the income as business income based on the company's objects clause, but the High Court emphasized the importance of demonstrating the property's treatment as a commercial asset with factual evidence. The court highlighted the necessity for concrete evidence to support income classification and directed a fresh assessment by the Tribunal to ensure adherence to legal principles and factual considerations in determining the nature of income sources. en-us Tue, 26 Nov 2002 00:00:00 +0530 Tue, 07 Jul 2009 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10076 The High Court of Madras remitted a case back to the Appellate Tribunal for reconsideration regarding the classification of rental income from a property. The Tribunal had classified the income as business income based on the company's objects clause, but the High Court emphasized the importance of demonstrating the property's treatment as a commercial asset with factual evidence. The court highlighted the necessity for concrete evidence to support income classification and directed a fresh assessment by the Tribunal to ensure adherence to legal principles and factual considerations in determining the nature of income sources. Case-Laws Income Tax Tue, 26 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10076