https://www.taxtmi.com/caselaws?id=792002 Rental receipts from commercial spaces were taxable as business income, not income from house property, because the company's memorandum and actual conduct showed acquisition, development, letting out, and commercial exploitation of properties as part of its business, with facilities and services provided to occupiers. The receipts had also been consistently assessed as business income in earlier scrutiny proceedings. An estimated disallowance of expenses could not be sustained where the assessee produced head-wise details, invoices, PANs, and TDS particulars, no specific defect was identified, the books were not rejected, and the estimation lacked adequate verification. The additions were deleted in full. en-us Mon, 18 May 2026 00:00:00 +0530 Thu, 21 May 2026 08:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792002 Rental receipts from commercial spaces were taxable as business income, not income from house property, because the company's memorandum and actual conduct showed acquisition, development, letting out, and commercial exploitation of properties as part of its business, with facilities and services provided to occupiers. The receipts had also been consistently assessed as business income in earlier scrutiny proceedings. An estimated disallowance of expenses could not be sustained where the assessee produced head-wise details, invoices, PANs, and TDS particulars, no specific defect was identified, the books were not rejected, and the estimation lacked adequate verification. The additions were deleted in full. Case-Laws Income Tax Mon, 18 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792002