https://www.taxtmi.com/caselaws?id=774741 ITAT Visakhapatnam held that rental income from property leasing constituted business income rather than income from house property where leasing was the main object of the assessee company and sole source of business income. The tribunal rejected the consistency rule argument, noting that incorrect claims cannot be perpetuated merely because previously undisturbed by authorities. The CIT(A)'s order treating rental income as house property income was set aside and AO's assessment restored. The matter regarding expense disallowances was remanded to CIT(A) for adjudication on merits. en-us Tue, 01 Apr 2025 00:00:00 +0530 Mon, 14 Jul 2025 08:36:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774741 ITAT Visakhapatnam held that rental income from property leasing constituted business income rather than income from house property where leasing was the main object of the assessee company and sole source of business income. The tribunal rejected the consistency rule argument, noting that incorrect claims cannot be perpetuated merely because previously undisturbed by authorities. The CIT(A)'s order treating rental income as house property income was set aside and AO's assessment restored. The matter regarding expense disallowances was remanded to CIT(A) for adjudication on merits. Case-Laws Income Tax Tue, 01 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774741