https://www.taxtmi.com/caselaws?id=213287 The Tribunal determined that the assessee held tenancy rights, not mere licenses, over premises, making the amount received for surrendering these rights taxable under section 55(2) of the IT Act, 1961. The Tribunal rejected the assessee's arguments and upheld the decisions of the Revenue authorities. Regarding the disallowance of interest on loans, the Tribunal set aside the previous orders and directed the Assessing Officer to re-examine the nexus between borrowed funds and their utilization for business purposes, allowing the appeal in part and remanding the issue for further examination. en-us Wed, 29 Feb 2012 00:00:00 +0530 Tue, 15 May 2012 08:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213287 The Tribunal determined that the assessee held tenancy rights, not mere licenses, over premises, making the amount received for surrendering these rights taxable under section 55(2) of the IT Act, 1961. The Tribunal rejected the assessee's arguments and upheld the decisions of the Revenue authorities. Regarding the disallowance of interest on loans, the Tribunal set aside the previous orders and directed the Assessing Officer to re-examine the nexus between borrowed funds and their utilization for business purposes, allowing the appeal in part and remanding the issue for further examination. Case-Laws Income Tax Wed, 29 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213287