Activities of the assessee involve more than letting therefore assessable as income from business and not as income from house property-New tangible material hence reassessment is bad in law ( AY. 2008 -09 , 2013-14 )
Tulsi Shipping ( P) Ltd v. ITO ( 2018) 169 ITD 629 ( Mum) ( Trib)
S.28(i): Business income- Income from house property – Shipping agency and warehousing – Activities of the assessee involve more than letting therefore assessable as income from business and not as income from house property-New tangible material hence reassessment is bad in law [ S. 22, 147, 148 ]