https://www.taxtmi.com/caselaws?id=412622 The Tribunal upheld the classification of income from renting out property as 'Business Income' rather than 'Income from House Property', denying deductions under Section 24(b) of the Income Tax Act. The decision was based on the nature of the property rented out and the business activities of the assessee. The Tribunal rejected the application of consistency principles due to incorrect legal interpretations in previous years, affirming the Assessing Officer and Commissioner of Income Tax (Appeals) decisions. en-us Fri, 13 Aug 2021 00:00:00 +0530 Wed, 22 Sep 2021 21:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412622 The Tribunal upheld the classification of income from renting out property as 'Business Income' rather than 'Income from House Property', denying deductions under Section 24(b) of the Income Tax Act. The decision was based on the nature of the property rented out and the business activities of the assessee. The Tribunal rejected the application of consistency principles due to incorrect legal interpretations in previous years, affirming the Assessing Officer and Commissioner of Income Tax (Appeals) decisions. Case-Laws Income Tax Fri, 13 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412622