Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
ITAT dismissed the revenue's appeal regarding classification of rental income under correct head of income. The assessee had treated rental income as business income rather than house property income while filing returns. The Coordinate Bench in assessee's own case for A.Y. 2011-12 previously held that assessee's rental income was assessable as "Income from Business." The Departmental Representative conceded that facts and circumstances for the current year were identical to A.Y. 2011-12, which was decided in assessee's favor. ITAT found no infirmity in CIT(A)'s order allowing the assessee to classify rental income as business income instead of house property income, upholding the lower authority's decision against the revenue.
ITAT dismissed the revenue's appeal regarding classification of rental income under correct head of income. The assessee had treated rental income as business income rather than house property income while filing returns. The Coordinate Bench in assessee's own case for A.Y. 2011-12 previously held that assessee's rental income was assessable as "Income from Business." The Departmental Representative conceded that facts and circumstances for the current year were identical to A.Y. 2011-12, which was decided in assessee's favor. ITAT found no infirmity in CIT(A)'s order allowing the assessee to classify rental income as business income instead of house property income, upholding the lower authority's decision against the revenue.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
