https://www.taxtmi.com/caselaws?id=295669 The case involved a dispute over whether rental income should be assessed as 'Income from house property' or 'business income' for the assessment year 2012-13. The Commissioner of Income-tax (CIT) held that the rental income should be considered as 'Income from business' due to the nature of the business activities. The Income Tax Appellate Tribunal (ITAT) agreed that the initial assessment was erroneous but remanded the issue back to the Assessing Officer for a comprehensive reevaluation in line with relevant case law. The ITAT partially allowed the appeal for statistical purposes, emphasizing the need for a thorough reconsideration by the AO. en-us Tue, 31 Oct 2017 00:00:00 +0530 Tue, 15 Jun 2021 07:47:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295669 The case involved a dispute over whether rental income should be assessed as 'Income from house property' or 'business income' for the assessment year 2012-13. The Commissioner of Income-tax (CIT) held that the rental income should be considered as 'Income from business' due to the nature of the business activities. The Income Tax Appellate Tribunal (ITAT) agreed that the initial assessment was erroneous but remanded the issue back to the Assessing Officer for a comprehensive reevaluation in line with relevant case law. The ITAT partially allowed the appeal for statistical purposes, emphasizing the need for a thorough reconsideration by the AO. Case-Laws Income Tax Tue, 31 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295669