https://www.taxtmi.com/caselaws?id=259001 The Bombay High Court upheld the classification of rental income as income from house property rather than business income, allowed the deduction for incomplete work, and permitted the deduction of interest on borrowed capital under section 24(b) of the Income Tax Act. The Court emphasized that the nature of income, not its treatment in accounting books, determines its classification. en-us Thu, 09 Apr 2015 00:00:00 +0530 Mon, 06 Apr 2026 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259001 The Bombay High Court upheld the classification of rental income as income from house property rather than business income, allowed the deduction for incomplete work, and permitted the deduction of interest on borrowed capital under section 24(b) of the Income Tax Act. The Court emphasized that the nature of income, not its treatment in accounting books, determines its classification. Case-Laws Income Tax Thu, 09 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259001