https://www.taxtmi.com/caselaws?id=273183 The ITAT Mumbai affirmed the classification of rental income as business income for the assessee, in line with past tribunal decisions and the Memorandum of Association. The allowance of rental expenses and depreciation on the building was also upheld under the head of business income, following consistent rulings and the similarity of facts to previous years. The decision provided clarity on the tax treatment of rental income derived from leasing activities and reiterated the importance of considering business activities when determining the appropriate tax categorization. en-us Wed, 02 Apr 2014 00:00:00 +0530 Sat, 09 Jun 2018 21:57:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273183 The ITAT Mumbai affirmed the classification of rental income as business income for the assessee, in line with past tribunal decisions and the Memorandum of Association. The allowance of rental expenses and depreciation on the building was also upheld under the head of business income, following consistent rulings and the similarity of facts to previous years. The decision provided clarity on the tax treatment of rental income derived from leasing activities and reiterated the importance of considering business activities when determining the appropriate tax categorization. Case-Laws Income Tax Wed, 02 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273183