https://www.taxtmi.com/caselaws?id=394659 The Tribunal allowed the assessee's appeal, ruling that the rental income should be taxed under "Income from House Property" rather than "Income from Business." The decision emphasized the absence of business activities in the renting out of properties and the principle of consistency in tax assessment. The Tribunal's judgment aligned with a similar case by the Hon'ble Apex Court, highlighting the need to view each situation from a businessman's perspective to determine the nature of income. en-us Fri, 06 Mar 2020 00:00:00 +0530 Mon, 20 Apr 2020 12:56:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394659 The Tribunal allowed the assessee's appeal, ruling that the rental income should be taxed under "Income from House Property" rather than "Income from Business." The decision emphasized the absence of business activities in the renting out of properties and the principle of consistency in tax assessment. The Tribunal's judgment aligned with a similar case by the Hon'ble Apex Court, highlighting the need to view each situation from a businessman's perspective to determine the nature of income. Case-Laws Income Tax Fri, 06 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394659