https://www.taxtmi.com/caselaws?id=347670 The Tribunal upheld the CIT(A)'s order, dismissing the Revenue's appeal. The income from service charges was correctly classified as business income, the administrative expenses were rightly allowed as deductions, the annual value of the property was appropriately determined based on actual rent and municipal valuation, and notional interest on interest-free loans was correctly excluded from the annual value calculation. The Tribunal's decision reinforced the principles of consistency and adherence to legal precedents in tax assessments. en-us Wed, 30 Aug 2017 00:00:00 +0530 Thu, 07 Sep 2017 16:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347670 The Tribunal upheld the CIT(A)'s order, dismissing the Revenue's appeal. The income from service charges was correctly classified as business income, the administrative expenses were rightly allowed as deductions, the annual value of the property was appropriately determined based on actual rent and municipal valuation, and notional interest on interest-free loans was correctly excluded from the annual value calculation. The Tribunal's decision reinforced the principles of consistency and adherence to legal precedents in tax assessments. Case-Laws Income Tax Wed, 30 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347670