https://www.taxtmi.com/caselaws?id=188686 The appeals involved the disallowance of deduction claimed under section 24(a) of the Income Tax Act for the assessment year 2007-08. The Tribunal ruled in favor of the assessees, holding that the rental income from letting out properties should be treated as 'Income from House Property' rather than business income. The Tribunal directed the Assessing Officer to allow the deduction under section 24(a) and provided guidance on interest charges. Ground No. 1 in both appeals was dismissed, but relief was granted to the assessees regarding the disallowance of deduction. en-us Thu, 02 Feb 2012 00:00:00 +0530 Mon, 12 Dec 2016 17:35:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188686 The appeals involved the disallowance of deduction claimed under section 24(a) of the Income Tax Act for the assessment year 2007-08. The Tribunal ruled in favor of the assessees, holding that the rental income from letting out properties should be treated as 'Income from House Property' rather than business income. The Tribunal directed the Assessing Officer to allow the deduction under section 24(a) and provided guidance on interest charges. Ground No. 1 in both appeals was dismissed, but relief was granted to the assessees regarding the disallowance of deduction. Case-Laws Income Tax Thu, 02 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188686