https://www.taxtmi.com/caselaws?id=327124 The Tribunal remanded the classification of income as business income or capital gains back to the Assessing Officer for verification. It also remanded the disallowance of development charges for proper verification of expenses. The Tribunal remanded the denial of exemption under Section 54F to the AO pending classification of income. Additionally, the Tribunal allowed the assessee's appeal on unexplained cash deposits and unexplained cash investment in property, while dismissing the revenue's appeal on unexplained cash credit and proportionate interest not charged on loans. The Tribunal confirmed the deletion of disallowance under Section 37(1) for miscellaneous expenses. en-us Tue, 15 Mar 2016 00:00:00 +0530 Wed, 04 May 2016 09:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327124 The Tribunal remanded the classification of income as business income or capital gains back to the Assessing Officer for verification. It also remanded the disallowance of development charges for proper verification of expenses. The Tribunal remanded the denial of exemption under Section 54F to the AO pending classification of income. Additionally, the Tribunal allowed the assessee's appeal on unexplained cash deposits and unexplained cash investment in property, while dismissing the revenue's appeal on unexplained cash credit and proportionate interest not charged on loans. The Tribunal confirmed the deletion of disallowance under Section 37(1) for miscellaneous expenses. Case-Laws Income Tax Tue, 15 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327124