https://www.taxtmi.com/caselaws?id=254166 The Tribunal upheld the classification of rental income as income from house property and the disallowance of business expenditure under Section 37. The issue of unexplained cash credits under Section 68 was remitted back to the AO for fresh examination. The disallowance of depreciation and initiation of penalty proceedings under Section 271(1)(c) were implicitly upheld. The appeal was partly allowed for statistical purposes, granting the assessee another chance to substantiate claims regarding unexplained cash credits. en-us Wed, 12 Mar 2014 00:00:00 +0530 Mon, 15 Dec 2014 06:43:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254166 The Tribunal upheld the classification of rental income as income from house property and the disallowance of business expenditure under Section 37. The issue of unexplained cash credits under Section 68 was remitted back to the AO for fresh examination. The disallowance of depreciation and initiation of penalty proceedings under Section 271(1)(c) were implicitly upheld. The appeal was partly allowed for statistical purposes, granting the assessee another chance to substantiate claims regarding unexplained cash credits. Case-Laws Income Tax Wed, 12 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254166