https://www.taxtmi.com/caselaws?id=206509 The Appellate Tribunal ITAT, Mumbai allowed the appeal of the assessee for statistical purposes, while dismissing the revenue's appeal. The tribunal upheld the deduction of 90% of lease rental income as an independent item of income and treated interest income as business income, allowing the deduction of 90% of it. The matter concerning netting of lease rental income after depreciation was remanded back to the CIT(A) for further consideration. en-us Mon, 28 Feb 2011 00:00:00 +0530 Fri, 04 Nov 2011 07:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206509 The Appellate Tribunal ITAT, Mumbai allowed the appeal of the assessee for statistical purposes, while dismissing the revenue's appeal. The tribunal upheld the deduction of 90% of lease rental income as an independent item of income and treated interest income as business income, allowing the deduction of 90% of it. The matter concerning netting of lease rental income after depreciation was remanded back to the CIT(A) for further consideration. Case-Laws Income Tax Mon, 28 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206509