https://www.taxtmi.com/caselaws?id=379048 The High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) regarding the classification of income from the lease of a hotel as Business Income instead of House Property Income. The Court also affirmed the application of the Arms' Length Principle for determining fair market value for tax purposes. The Revenue's appeal was dismissed as the Court found no substantial legal questions arising from the issues raised, and the arguments presented were not deemed to introduce new facets to the matter. en-us Tue, 23 Apr 2019 00:00:00 +0530 Thu, 25 Apr 2019 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379048 The High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) regarding the classification of income from the lease of a hotel as Business Income instead of House Property Income. The Court also affirmed the application of the Arms' Length Principle for determining fair market value for tax purposes. The Revenue's appeal was dismissed as the Court found no substantial legal questions arising from the issues raised, and the arguments presented were not deemed to introduce new facets to the matter. Case-Laws Income Tax Tue, 23 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379048