https://www.taxtmi.com/caselaws?id=379956 The Tribunal upheld the CIT(A)'s decision to assess the lease rent received by the assessee as 'income from business' rather than 'income from other sources.' The Tribunal considered the ongoing business activities of the assessee, joint operations with Apollo, and legal precedents supporting the treatment of rental income as business income when related to primary business activities. The appeals by the Revenue were dismissed, affirming the assessment of lease rent as 'income from business.' en-us Mon, 06 May 2019 00:00:00 +0530 Thu, 09 May 2019 15:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379956 The Tribunal upheld the CIT(A)'s decision to assess the lease rent received by the assessee as 'income from business' rather than 'income from other sources.' The Tribunal considered the ongoing business activities of the assessee, joint operations with Apollo, and legal precedents supporting the treatment of rental income as business income when related to primary business activities. The appeals by the Revenue were dismissed, affirming the assessment of lease rent as 'income from business.' Case-Laws Income Tax Mon, 06 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379956