https://www.taxtmi.com/caselaws?id=404740 The Tribunal ruled in favor of the assessee, determining that income from the operation of a retail mall should be classified as "Profits and Gains from Business or Profession" rather than "Income from House Property." This classification allows for the deduction of related business expenditures. The decision reversed the CIT(A) and Assessing Officer's prior classification, aligning with previous judgments favoring the assessee. The Tribunal emphasized consistent treatment across assessment years, citing relevant case law, and directed the Assessing Officer to adjust the classification and deductions accordingly. en-us Fri, 19 Feb 2021 00:00:00 +0530 Tue, 29 Oct 2024 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404740 The Tribunal ruled in favor of the assessee, determining that income from the operation of a retail mall should be classified as "Profits and Gains from Business or Profession" rather than "Income from House Property." This classification allows for the deduction of related business expenditures. The decision reversed the CIT(A) and Assessing Officer's prior classification, aligning with previous judgments favoring the assessee. The Tribunal emphasized consistent treatment across assessment years, citing relevant case law, and directed the Assessing Officer to adjust the classification and deductions accordingly. Case-Laws Income Tax Fri, 19 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404740