https://www.taxtmi.com/caselaws?id=276069 The Tribunal dismissed the Revenue's appeal regarding the classification of income on sub-lease of land and maintenance income as business income for the assessment year 2010-11. It also upheld the deletion of the addition related to interest on borrowed capital utilized for property construction. The decision was based on the operational nature of the business, allowing the income sources and expenses in line with previous rulings, emphasizing the significance of precedent and tax law application in determining tax treatment. en-us Wed, 27 May 2015 00:00:00 +0530 Fri, 26 Oct 2018 20:03:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276069 The Tribunal dismissed the Revenue's appeal regarding the classification of income on sub-lease of land and maintenance income as business income for the assessment year 2010-11. It also upheld the deletion of the addition related to interest on borrowed capital utilized for property construction. The decision was based on the operational nature of the business, allowing the income sources and expenses in line with previous rulings, emphasizing the significance of precedent and tax law application in determining tax treatment. Case-Laws Income Tax Wed, 27 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276069