https://www.taxtmi.com/caselaws?id=387518 The court upheld the classification of receipts from leasing a property to GAIL as income from house property and other sources, not business income. It determined that the assessee lacked systematic business activities, leading to the correct assessment of income. Additionally, the court ruled that res judicata does not apply to tax matters for different assessment years, allowing for reassessment based on available material. The Tribunal's decision to treat the receipts as income from house property and other sources for the relevant assessment years was deemed lawful, and the appeals were dismissed in favor of the Revenue. en-us Wed, 18 Sep 2019 00:00:00 +0530 Tue, 03 Dec 2019 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387518 The court upheld the classification of receipts from leasing a property to GAIL as income from house property and other sources, not business income. It determined that the assessee lacked systematic business activities, leading to the correct assessment of income. Additionally, the court ruled that res judicata does not apply to tax matters for different assessment years, allowing for reassessment based on available material. The Tribunal's decision to treat the receipts as income from house property and other sources for the relevant assessment years was deemed lawful, and the appeals were dismissed in favor of the Revenue. Case-Laws Income Tax Wed, 18 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387518