https://www.taxtmi.com/caselaws?id=353351 The Tribunal upheld the CIT(A)'s decision, classifying rental receipts from subletting of premises as business income rather than income from other sources. Consequential expenses claimed by the assessee, including interest, depreciation, and legal charges, were allowed as business expenses due to their essential role in maintaining the premises for legitimate business activities. The consistent treatment of rental income as business income in previous years, supported by the appellant's business-oriented operations, influenced the Tribunal's decision to affirm the tax treatment of the rental income and associated expenses. en-us Fri, 29 Dec 2017 00:00:00 +0530 Tue, 02 Jan 2018 09:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353351 The Tribunal upheld the CIT(A)'s decision, classifying rental receipts from subletting of premises as business income rather than income from other sources. Consequential expenses claimed by the assessee, including interest, depreciation, and legal charges, were allowed as business expenses due to their essential role in maintaining the premises for legitimate business activities. The consistent treatment of rental income as business income in previous years, supported by the appellant's business-oriented operations, influenced the Tribunal's decision to affirm the tax treatment of the rental income and associated expenses. Case-Laws Income Tax Fri, 29 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353351