https://www.taxtmi.com/caselaws?id=256013 The Tribunal partly allowed the Revenue's appeal for the assessment year 2005-06, modifying the disallowance of expenses and depreciation to only essential expenses for maintaining corporate status. It upheld the classification of service charges and interest income as 'Income from Other Sources' and disallowed personal expenditures of directors. The ad-hoc disallowance of director's remuneration was upheld due to part of it being attributed to rental income. For the assessment year 2008-09, both the assessee's and Revenue's appeals were allowed for statistical purposes, directing a fresh examination by the AO due to revived business activities. en-us Fri, 23 Jan 2015 00:00:00 +0530 Mon, 02 Feb 2015 11:21:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256013 The Tribunal partly allowed the Revenue's appeal for the assessment year 2005-06, modifying the disallowance of expenses and depreciation to only essential expenses for maintaining corporate status. It upheld the classification of service charges and interest income as 'Income from Other Sources' and disallowed personal expenditures of directors. The ad-hoc disallowance of director's remuneration was upheld due to part of it being attributed to rental income. For the assessment year 2008-09, both the assessee's and Revenue's appeals were allowed for statistical purposes, directing a fresh examination by the AO due to revived business activities. Case-Laws Income Tax Fri, 23 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256013