https://www.taxtmi.com/caselaws?id=396547 The Tribunal upheld the CIT(A)'s decision, directing the Assessing Officer to assess the lease rent as 'income from business'. The appeal by the Revenue was dismissed, with the Tribunal concluding that the assessee was engaged in the business of commercial exploitation of its assets through joint operation with Apollo, and therefore, the lease rent should be assessed as 'income from business' and not 'income from other sources'. en-us Mon, 06 Jul 2020 00:00:00 +0530 Thu, 09 Jul 2020 19:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396547 The Tribunal upheld the CIT(A)'s decision, directing the Assessing Officer to assess the lease rent as 'income from business'. The appeal by the Revenue was dismissed, with the Tribunal concluding that the assessee was engaged in the business of commercial exploitation of its assets through joint operation with Apollo, and therefore, the lease rent should be assessed as 'income from business' and not 'income from other sources'. Case-Laws Income Tax Mon, 06 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396547