https://www.taxtmi.com/caselaws?id=210828 The Tribunal determined that the income from the three agreements, constituting a hostel business, should be classified as business income rather than income from house property. The entire income, after deducting expenses, was considered business income. However, the claim for pre-construction interest deduction was disallowed as it did not align with the provisions for business income. The appeals for both assessment years were allowed in favor of the assessee, with the exception of the pre-construction interest issue. en-us Fri, 30 Dec 2011 00:00:00 +0530 Wed, 20 Apr 2016 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210828 The Tribunal determined that the income from the three agreements, constituting a hostel business, should be classified as business income rather than income from house property. The entire income, after deducting expenses, was considered business income. However, the claim for pre-construction interest deduction was disallowed as it did not align with the provisions for business income. The appeals for both assessment years were allowed in favor of the assessee, with the exception of the pre-construction interest issue. Case-Laws Income Tax Fri, 30 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210828