2019 (2) TMI 1610

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....nue has filed this appeal against the judgment of the Income Tax Appellate Tribunal raising following questions for our consideration: "1. Whether on the facts and in the circumstances of the case and in law, the ITAT was justified in treating the receipts for the lease of its hotel as business income ignoring the primary fact that the transaction involved the long term lease of a property which....

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....d that the business was handed over by the respondent assessee to KHIL in the year 1994 and since the assessment year 199596 till the assessment year 200506, the income from the same was assessed as a business income. The assessment for the year 199596 was completed under Section 143(3) of the Income Tax Act. So also, for the assessment year 200304 and assessment year 200506, the assessment was co....