https://www.taxtmi.com/caselaws?id=328504 The Tribunal dismissed the Revenue's appeal against the disallowance of expenses under section 40(a)(ia) of the Income Tax Act for various assessment years. It held that the assessee, exempt under sections 10 or 11, was not subject to section 40(a)(ia) as they did not fall under the "income from business or profession" head. The Tribunal emphasized the distinction between total income computation and income from property held under trust, affirming that the exemption under sections 10 or 11 precluded the application of section 40(a)(ia). The appeals and cross objections were dismissed, with the Tribunal's decision issued on May 9, 2016. en-us Mon, 09 May 2016 00:00:00 +0530 Mon, 06 Jun 2016 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328504 The Tribunal dismissed the Revenue's appeal against the disallowance of expenses under section 40(a)(ia) of the Income Tax Act for various assessment years. It held that the assessee, exempt under sections 10 or 11, was not subject to section 40(a)(ia) as they did not fall under the "income from business or profession" head. The Tribunal emphasized the distinction between total income computation and income from property held under trust, affirming that the exemption under sections 10 or 11 precluded the application of section 40(a)(ia). The appeals and cross objections were dismissed, with the Tribunal's decision issued on May 9, 2016. Case-Laws Income Tax Mon, 09 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328504