https://www.taxtmi.com/caselaws?id=406178 The Tribunal upheld the CIT(A)'s order, confirming the assessment of rental receipts from the leased commercial assets as business income for AY 2016-17. The decision emphasized the commercial nature of the assets leased out and their primary use in business activities, leading to the classification of the income as business income rather than income from house property. The appeal was dismissed, highlighting the significance of asset utilization and commercial exploitation in determining the tax treatment of rental income. en-us Wed, 24 Mar 2021 00:00:00 +0530 Thu, 08 Apr 2021 09:39:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406178 The Tribunal upheld the CIT(A)'s order, confirming the assessment of rental receipts from the leased commercial assets as business income for AY 2016-17. The decision emphasized the commercial nature of the assets leased out and their primary use in business activities, leading to the classification of the income as business income rather than income from house property. The appeal was dismissed, highlighting the significance of asset utilization and commercial exploitation in determining the tax treatment of rental income. Case-Laws Income Tax Wed, 24 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406178