https://www.taxtmi.com/caselaws?id=217621 The Tribunal partly allowed the assessee's appeal, upholding the treatment of interest and dividend income as 'income from other sources' while ruling that business centre income should be assessed as 'Profits & Gains from business or profession.' Various expenses were allowed as business expenditures, including professional fees, employee costs, and depreciation on plant and machinery. Disallowances were made for rates and taxes not related to business, while the Tribunal directed the Assessing Officer to adopt a reasonable basis for disallowance under Section 14A read with Rule 8D. The Tribunal's decision ensured consistency with previous assessments and dismissed the revenue's appeal. en-us Wed, 11 Jul 2012 00:00:00 +0530 Sat, 20 Oct 2012 07:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217621 The Tribunal partly allowed the assessee's appeal, upholding the treatment of interest and dividend income as 'income from other sources' while ruling that business centre income should be assessed as 'Profits & Gains from business or profession.' Various expenses were allowed as business expenditures, including professional fees, employee costs, and depreciation on plant and machinery. Disallowances were made for rates and taxes not related to business, while the Tribunal directed the Assessing Officer to adopt a reasonable basis for disallowance under Section 14A read with Rule 8D. The Tribunal's decision ensured consistency with previous assessments and dismissed the revenue's appeal. Case-Laws Income Tax Wed, 11 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217621