https://www.taxtmi.com/caselaws?id=68808 The Tribunal allowed the appeal, determining that income from car hire charges should be classified under 'Income from other sources' for consistency. It emphasized the lack of organized business activity in renting a single car to a specific customer annually. Deductions under Section 57(iii) were deemed allowable, directing the AO to verify and permit insurance charges. The Tribunal rejected the claim of a colorable device to reduce tax liability, noting the Department's prior acceptance of the income classification. The assessee's appeal was granted. en-us Fri, 27 Jun 2008 00:00:00 +0530 Tue, 07 Aug 2012 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68808 The Tribunal allowed the appeal, determining that income from car hire charges should be classified under 'Income from other sources' for consistency. It emphasized the lack of organized business activity in renting a single car to a specific customer annually. Deductions under Section 57(iii) were deemed allowable, directing the AO to verify and permit insurance charges. The Tribunal rejected the claim of a colorable device to reduce tax liability, noting the Department's prior acceptance of the income classification. The assessee's appeal was granted. Case-Laws Income Tax Fri, 27 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68808