https://www.taxtmi.com/caselaws?id=242917 The Tribunal dismissed the appeal regarding disallowance of brokerage expenses and professional fees as business expenditure related to letting out the property. It upheld that such expenses were not deductible under relevant sections of the Income Tax Act. Additionally, the Tribunal confirmed the mandatory nature of interest charged under section 234, citing Supreme Court precedents. Some professional expenses were allowed as business expenditure, while others were disallowed, resulting in a partial allowance of the appeal. en-us Fri, 06 Dec 2013 00:00:00 +0530 Thu, 23 Jan 2014 06:59:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242917 The Tribunal dismissed the appeal regarding disallowance of brokerage expenses and professional fees as business expenditure related to letting out the property. It upheld that such expenses were not deductible under relevant sections of the Income Tax Act. Additionally, the Tribunal confirmed the mandatory nature of interest charged under section 234, citing Supreme Court precedents. Some professional expenses were allowed as business expenditure, while others were disallowed, resulting in a partial allowance of the appeal. Case-Laws Income Tax Fri, 06 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242917