https://www.taxtmi.com/caselaws?id=782290 ITAT Delhi held that rental income earned from the assessee's commercial properties is taxable as "Business income" and not under the head "House Property." The Tribunal noted that the properties were held as commercial assets and actually exploited for business purposes, contrary to the Tax Authorities' view that the assessee was merely earning passive rental income. Consequently, the reclassification of income by the Tax Authorities was found erroneous. The disallowance of related business expenditure and denial of depreciation were held unsustainable, and the Revenue's appeals were dismissed. en-us Thu, 31 Jul 2025 00:00:00 +0530 Thu, 27 Nov 2025 08:36:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782290 ITAT Delhi held that rental income earned from the assessee's commercial properties is taxable as "Business income" and not under the head "House Property." The Tribunal noted that the properties were held as commercial assets and actually exploited for business purposes, contrary to the Tax Authorities' view that the assessee was merely earning passive rental income. Consequently, the reclassification of income by the Tax Authorities was found erroneous. The disallowance of related business expenditure and denial of depreciation were held unsustainable, and the Revenue's appeals were dismissed. Case-Laws Income Tax Thu, 31 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782290