https://www.taxtmi.com/caselaws?id=187563 The Tribunal upheld the Commissioner of Income-tax(Appeals)'s decision to disallow the claimed expenditures as capital in nature, limit deductible expenditure to 2% of gross income, and assess income as "income from other sources." The Tribunal agreed that the assessee trust was not conducting business activities but organizing assets for subsidiary units, leading to the dismissal of the appeal. en-us Mon, 07 Jul 2014 00:00:00 +0530 Thu, 27 Oct 2016 10:39:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187563 The Tribunal upheld the Commissioner of Income-tax(Appeals)'s decision to disallow the claimed expenditures as capital in nature, limit deductible expenditure to 2% of gross income, and assess income as "income from other sources." The Tribunal agreed that the assessee trust was not conducting business activities but organizing assets for subsidiary units, leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 07 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187563