https://www.taxtmi.com/caselaws?id=781942 ITAT Kolkata held that lease rentals from space within a warehousing complex are taxable as "income from house property," not "business income," since the Revenue had consistently accepted this treatment in preceding and succeeding years and there was no change in facts. The AO was directed to allow standard deduction under s.24(1) and the order of CIT(A) was set aside on this issue. On the addition treated as speculation business income under s.43(5), the Tribunal held that assignment of rights in immovable property is not a speculative transaction but a transfer of a capital asset, taxable under capital gains. The AO was directed to delete the addition. en-us Wed, 19 Nov 2025 00:00:00 +0530 Sat, 22 Nov 2025 07:36:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781942 ITAT Kolkata held that lease rentals from space within a warehousing complex are taxable as "income from house property," not "business income," since the Revenue had consistently accepted this treatment in preceding and succeeding years and there was no change in facts. The AO was directed to allow standard deduction under s.24(1) and the order of CIT(A) was set aside on this issue. On the addition treated as speculation business income under s.43(5), the Tribunal held that assignment of rights in immovable property is not a speculative transaction but a transfer of a capital asset, taxable under capital gains. The AO was directed to delete the addition. Case-Laws Income Tax Wed, 19 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781942