https://www.taxtmi.com/caselaws?id=346423 The Tribunal allowed the appeal partly, directing the Assessing Officer to permit the expenditure claimed by the assessee as business expenditure, except for ROC charges. The Tribunal held that the assessee had set up its business activities and the expenses were necessary for running the business. However, the income from interest on debentures and profit on mutual fund units was correctly assessed under "income from other sources" as the activities did not constitute business income. The Tribunal also ordered the application of netting principles to the assessed income. en-us Fri, 04 Aug 2017 00:00:00 +0530 Sat, 18 Nov 2017 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346423 The Tribunal allowed the appeal partly, directing the Assessing Officer to permit the expenditure claimed by the assessee as business expenditure, except for ROC charges. The Tribunal held that the assessee had set up its business activities and the expenses were necessary for running the business. However, the income from interest on debentures and profit on mutual fund units was correctly assessed under "income from other sources" as the activities did not constitute business income. The Tribunal also ordered the application of netting principles to the assessed income. Case-Laws Income Tax Fri, 04 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346423