https://www.taxtmi.com/caselaws?id=195088 The Tribunal affirmed the Commissioner of Income Tax (Appeals)'s decision to consider municipal value as the annual letting value of the property for taxation, without deduction of municipal taxes borne by the tenant. Additionally, the Tribunal upheld the restriction of disallowance under section 14A r.w. rule 8D to the actual expenses claimed by the assessee in the Profit and Loss Account. The Tribunal's judgment emphasized adherence to legal precedents and interpretations of tax laws, dismissing the revenue's appeal and ensuring consistency in tax assessments and disallowances. en-us Fri, 31 Jul 2015 00:00:00 +0530 Sat, 14 Oct 2017 07:54:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195088 The Tribunal affirmed the Commissioner of Income Tax (Appeals)'s decision to consider municipal value as the annual letting value of the property for taxation, without deduction of municipal taxes borne by the tenant. Additionally, the Tribunal upheld the restriction of disallowance under section 14A r.w. rule 8D to the actual expenses claimed by the assessee in the Profit and Loss Account. The Tribunal's judgment emphasized adherence to legal precedents and interpretations of tax laws, dismissing the revenue's appeal and ensuring consistency in tax assessments and disallowances. Case-Laws Income Tax Fri, 31 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195088