https://www.taxtmi.com/caselaws?id=332437 The Appellate Tribunal ruled in favor of the assessee in a tax dispute case. The Tribunal directed the Assessing Officer to delete the disallowance under section 14A of the Income Tax Act as the own funds exceeded investments. Additionally, the Tribunal considered service charges as part of rental income, overturning lower authorities' decisions. The Tribunal rejected the notion of assessing notional rent, stating that actual rent received should be considered. Ultimately, the Tribunal allowed the appeals filed by the assessee and directed the Assessing Officer to make adjustments accordingly. en-us Fri, 02 Sep 2016 00:00:00 +0530 Sat, 17 Sep 2016 11:36:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332437 The Appellate Tribunal ruled in favor of the assessee in a tax dispute case. The Tribunal directed the Assessing Officer to delete the disallowance under section 14A of the Income Tax Act as the own funds exceeded investments. Additionally, the Tribunal considered service charges as part of rental income, overturning lower authorities' decisions. The Tribunal rejected the notion of assessing notional rent, stating that actual rent received should be considered. Ultimately, the Tribunal allowed the appeals filed by the assessee and directed the Assessing Officer to make adjustments accordingly. Case-Laws Income Tax Fri, 02 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332437