https://www.taxtmi.com/caselaws?id=245047 The tribunal upheld the Commissioner of Income Tax (Appeals) decisions on both issues. It dismissed the Revenue's appeal, affirming that rental income should be taxed as income from house property and allowing part relief under income from other sources. The tribunal found no merit in the Assessing Officer's reclassification of rental income as business income, emphasizing the appellant's consistent reporting and lack of evidence for tax evasion. Additionally, it supported the CIT(A)'s decision to allow 50% relief for claimed expenses under u/s. 57(iii) due to their genuine nature and relevance to income generation. en-us Wed, 12 Mar 2014 00:00:00 +0530 Tue, 18 Mar 2014 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245047 The tribunal upheld the Commissioner of Income Tax (Appeals) decisions on both issues. It dismissed the Revenue's appeal, affirming that rental income should be taxed as income from house property and allowing part relief under income from other sources. The tribunal found no merit in the Assessing Officer's reclassification of rental income as business income, emphasizing the appellant's consistent reporting and lack of evidence for tax evasion. Additionally, it supported the CIT(A)'s decision to allow 50% relief for claimed expenses under u/s. 57(iii) due to their genuine nature and relevance to income generation. Case-Laws Income Tax Wed, 12 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245047