https://www.taxtmi.com/caselaws?id=339105 The tribunal partly allowed the assessee's appeal and dismissed the revenue's appeal. It directed the Assessing Officer (AO) to delete the enhancement of rental income from M/s. Visage Studio. The tribunal also allowed the expenses claimed by the assessee, except for depreciation on the building, which was directed to be disallowed proportionate to the let-out portion. Additionally, the tribunal upheld the CIT(A)'s decision on the rental income from M/s. Rem Nord Research Laboratories Pvt. Ltd., stating that the AO should not determine the annual letting value based on the lease rent share from M/s. Visage Studios. en-us Wed, 15 Feb 2017 00:00:00 +0530 Fri, 17 Feb 2017 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339105 The tribunal partly allowed the assessee's appeal and dismissed the revenue's appeal. It directed the Assessing Officer (AO) to delete the enhancement of rental income from M/s. Visage Studio. The tribunal also allowed the expenses claimed by the assessee, except for depreciation on the building, which was directed to be disallowed proportionate to the let-out portion. Additionally, the tribunal upheld the CIT(A)'s decision on the rental income from M/s. Rem Nord Research Laboratories Pvt. Ltd., stating that the AO should not determine the annual letting value based on the lease rent share from M/s. Visage Studios. Case-Laws Income Tax Wed, 15 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339105