https://www.taxtmi.com/caselaws?id=183704 The Tribunal ruled in favor of the assessee on multiple issues. It deleted the disallowance of foreign travel expenses, finding them to be business-related. The disallowance of telephone and car expenses was partially upheld, acknowledging personal use. The Tribunal removed the Section 14A disallowance due to lack of direct nexus with exempt income. It upheld the deletion of unexplained investment under Section 69B, citing insufficient evidence. Income from property sales was classified as capital gains, not business income, due to long-term holding. The annual letting value addition was deleted under Section 23(1)(c), as the property was vacant. en-us Fri, 17 Oct 2008 00:00:00 +0530 Mon, 20 Nov 2023 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183704 The Tribunal ruled in favor of the assessee on multiple issues. It deleted the disallowance of foreign travel expenses, finding them to be business-related. The disallowance of telephone and car expenses was partially upheld, acknowledging personal use. The Tribunal removed the Section 14A disallowance due to lack of direct nexus with exempt income. It upheld the deletion of unexplained investment under Section 69B, citing insufficient evidence. Income from property sales was classified as capital gains, not business income, due to long-term holding. The annual letting value addition was deleted under Section 23(1)(c), as the property was vacant. Case-Laws Income Tax Fri, 17 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183704