https://www.taxtmi.com/caselaws?id=418265 The Tribunal ruled in favor of the assessee, determining that the income from warehouse operations should be classified as business income rather than income from house property. The agreement between the assessee and MP Warehousing outlined various operational responsibilities, indicating that the receipts were business income. Consequently, the addition of Rs. 2,80,881 was removed, and the income from warehouse operations was recognized as business income. The Tribunal emphasized that the receipts were not rental income but business receipts for conducting warehouse operations as per the agreement terms. en-us Mon, 17 Jan 2022 00:00:00 +0530 Fri, 11 Feb 2022 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418265 The Tribunal ruled in favor of the assessee, determining that the income from warehouse operations should be classified as business income rather than income from house property. The agreement between the assessee and MP Warehousing outlined various operational responsibilities, indicating that the receipts were business income. Consequently, the addition of Rs. 2,80,881 was removed, and the income from warehouse operations was recognized as business income. The Tribunal emphasized that the receipts were not rental income but business receipts for conducting warehouse operations as per the agreement terms. Case-Laws Income Tax Mon, 17 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418265