https://www.taxtmi.com/caselaws?id=351114 The Tribunal upheld the decisions of the Ld. CIT(A) in dismissing the Revenue's appeal. The disallowance under section 14A was deleted, and the addition towards rental income for five shops was also removed. The Tribunal emphasized that the disallowance should not be based on netting interest income and that rental income applies only when the assessee is the property owner, not for business assets. The newly inserted provision regarding properties held as stock-in-trade was deemed inapplicable. en-us Wed, 15 Nov 2017 00:00:00 +0530 Mon, 20 Nov 2017 07:25:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351114 The Tribunal upheld the decisions of the Ld. CIT(A) in dismissing the Revenue's appeal. The disallowance under section 14A was deleted, and the addition towards rental income for five shops was also removed. The Tribunal emphasized that the disallowance should not be based on netting interest income and that rental income applies only when the assessee is the property owner, not for business assets. The newly inserted provision regarding properties held as stock-in-trade was deemed inapplicable. Case-Laws Income Tax Wed, 15 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351114