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2022 (6) TMI 814 - SCH - Income TaxCorrect head of income - Lease rent received - to be treated as business income or as income from other sources - HELD THAT:- Both the Income Tax Appellate Tribunal (ITAT) as well as the High Court have rightly held that the rental income to be treated as “income from other sources”. We are in complete agreement with the view taken by the ITAT as well as the High Court. Regarding the Decision on “quality loss” and on “penalty/stores and spares”, we are in complete agreement with the ITAT as well as the High Court. We see no reason to interfere with the impugned judgment and order(s) passed by the High Court in exercise of powers under Article 136 of the Constitution of India. The Special Leave Petitions stand dismissed.
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