https://www.taxtmi.com/news?id=918 Dispute concerns the scope of deductions under income from other sources for expenses incurred in earning interest and rental receipts; assessee claimed a small standardized percentage deduction for interest on bank deposits and rent from employees and displaced persons, which the Assessing Officer challenged. Tribunal practice and higher review applied precedents on permissible standardized expense deductions to permit a modest standard deduction reflecting expenses attributable to generating such receipts. en-us Sun, 05 Jul 2009 20:14:34 +0530 Mon, 20 Jul 2009 01:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=918 Dispute concerns the scope of deductions under income from other sources for expenses incurred in earning interest and rental receipts; assessee claimed a small standardized percentage deduction for interest on bank deposits and rent from employees and displaced persons, which the Assessing Officer challenged. Tribunal practice and higher review applied precedents on permissible standardized expense deductions to permit a modest standard deduction reflecting expenses attributable to generating such receipts. News - Sun, 05 Jul 2009 20:14:34 +0530 https://www.taxtmi.com/news?id=918