https://www.taxtmi.com/caselaws?id=198858 The appeal against the ITAT judgment was dismissed. The Tribunal found that the income derived from labor was business income due to the commercial exploitation of assets and the long-standing nature of the business. The Tribunal also concluded that the income credited as labor income was not from undisclosed sources but from commercial asset exploitation. The Tribunal deleted the disallowed interest expenditure as the income was deemed business income. The Tax Appeal was ultimately dismissed based on these findings. en-us Thu, 17 Jan 2013 00:00:00 +0530 Sat, 10 Feb 2018 12:57:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198858 The appeal against the ITAT judgment was dismissed. The Tribunal found that the income derived from labor was business income due to the commercial exploitation of assets and the long-standing nature of the business. The Tribunal also concluded that the income credited as labor income was not from undisclosed sources but from commercial asset exploitation. The Tribunal deleted the disallowed interest expenditure as the income was deemed business income. The Tax Appeal was ultimately dismissed based on these findings. Case-Laws Income Tax Thu, 17 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198858