https://www.taxtmi.com/caselaws?id=350300 The Tribunal directed the Assessing Officer to treat rental income and parking space income as business income, emphasizing consistency with previous years. The Tribunal also instructed a re-decision on the disallowance of expenses and unabsorbed depreciation, providing the assessee with a reasonable opportunity to be heard. The CIT(A)'s decision to tax parking space income as other sources was overturned in favor of treating it as business income due to its connection to the building. The Tribunal did not address the issue of statutory deduction for parking space income. en-us Wed, 25 Oct 2017 00:00:00 +0530 Fri, 03 Nov 2017 10:52:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350300 The Tribunal directed the Assessing Officer to treat rental income and parking space income as business income, emphasizing consistency with previous years. The Tribunal also instructed a re-decision on the disallowance of expenses and unabsorbed depreciation, providing the assessee with a reasonable opportunity to be heard. The CIT(A)'s decision to tax parking space income as other sources was overturned in favor of treating it as business income due to its connection to the building. The Tribunal did not address the issue of statutory deduction for parking space income. Case-Laws Income Tax Wed, 25 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350300