https://www.taxtmi.com/caselaws?id=306723 The Tribunal upheld the CIT(A)'s decision to treat the income as 'income from house property' instead of 'income from business' for the assessment year 2010-11. Despite past rulings in favor of the assessee, the Tribunal found that there was no intention to restart the business since its discontinuance in 1988. The assessee had let out the premises for rent with no substantial efforts to resume operations. Consequently, the appeal was dismissed, affirming the income assessment as 'income from house property.' en-us Mon, 03 Aug 2015 00:00:00 +0530 Wed, 22 Feb 2023 08:49:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306723 The Tribunal upheld the CIT(A)'s decision to treat the income as 'income from house property' instead of 'income from business' for the assessment year 2010-11. Despite past rulings in favor of the assessee, the Tribunal found that there was no intention to restart the business since its discontinuance in 1988. The assessee had let out the premises for rent with no substantial efforts to resume operations. Consequently, the appeal was dismissed, affirming the income assessment as 'income from house property.' Case-Laws Income Tax Mon, 03 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306723