https://www.taxtmi.com/caselaws?id=256848 The Court upheld the disallowance of expenditure on municipal tax, repairs, and insurance for a guest house under section 37(4) of the Income-tax Act. The Court remanded the issue of deduction under section 33AB regarding interest income for further consideration due to lack of clarification on the source of income. The treatment of sale proceeds of wind fallen shade trees as income from other sources was affirmed. The Court directed a rehearing on additional grounds related to depreciation and written down value under section 43(6) and sought proper interpretation of section 43(6) for computing asset depreciation. en-us Wed, 22 Jan 2014 00:00:00 +0530 Tue, 24 Feb 2015 06:09:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256848 The Court upheld the disallowance of expenditure on municipal tax, repairs, and insurance for a guest house under section 37(4) of the Income-tax Act. The Court remanded the issue of deduction under section 33AB regarding interest income for further consideration due to lack of clarification on the source of income. The treatment of sale proceeds of wind fallen shade trees as income from other sources was affirmed. The Court directed a rehearing on additional grounds related to depreciation and written down value under section 43(6) and sought proper interpretation of section 43(6) for computing asset depreciation. Case-Laws Income Tax Wed, 22 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256848