https://www.taxtmi.com/caselaws?id=270742 The tribunal partially allowed the appeals for both assessment years, overturning the treatment of rental income as 'Income from other sources' to 'Income from house property' due to a rent-free period granted for delayed premises handover. Disallowances of interest on O.D. account and bank loan were set aside for lack of evidence, directing reassessment based on appellant-provided evidence. The disallowance of professional charges was remitted for insufficient opportunity to present evidence. Processing of loan fees was deemed revenue expenditure, not capital, requiring reassessment in line with interest expenses treatment. en-us Fri, 23 Oct 2015 00:00:00 +0530 Thu, 14 Jan 2016 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270742 The tribunal partially allowed the appeals for both assessment years, overturning the treatment of rental income as 'Income from other sources' to 'Income from house property' due to a rent-free period granted for delayed premises handover. Disallowances of interest on O.D. account and bank loan were set aside for lack of evidence, directing reassessment based on appellant-provided evidence. The disallowance of professional charges was remitted for insufficient opportunity to present evidence. Processing of loan fees was deemed revenue expenditure, not capital, requiring reassessment in line with interest expenses treatment. Case-Laws Income Tax Fri, 23 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270742