https://www.taxtmi.com/caselaws?id=58162 The Tribunal affirmed the CIT(A)'s decision regarding the classification of income from property, ruling that the rent received by the assessee-association should be taxed under 'Income from business' due to the association's objective behind purchasing the flat. Additionally, contributions towards a building fund were treated as capital receipts, as they were specifically for capital assets, leading to the dismissal of the appeals and upholding the CIT(A)'s decisions. en-us Sat, 24 Nov 1984 00:00:00 +0530 Fri, 17 Dec 2010 16:33:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58162 The Tribunal affirmed the CIT(A)'s decision regarding the classification of income from property, ruling that the rent received by the assessee-association should be taxed under 'Income from business' due to the association's objective behind purchasing the flat. Additionally, contributions towards a building fund were treated as capital receipts, as they were specifically for capital assets, leading to the dismissal of the appeals and upholding the CIT(A)'s decisions. Case-Laws Income Tax Sat, 24 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58162