Rental Income Taxed as House Property Due to Main Business Object

Veerprabhu Auto Pvt. Ltd. Vs ACIT (ITAT Kolkata) Rental Income Taxed as House Property; Jurisdiction Objection Rejected — ITAT Kolkata Dismisses Assessee’s Appeal The Kolkata Bench of the ITAT dismissed the appeal of Veerprabhu Auto Pvt. Ltd. for AY 2016-17, upholding the assessment of rental income as “Income from House Property” instead of “Business Income” and rejecting the belated jurisdictional challenge. Although the delay of 24 days in filing the appeal was condoned, the Tribunal noted that the assessee’s main business, as per its Memorandum of Association, was automobile-...