https://www.taxtmi.com/caselaws?id=200543 The Tribunal allowed the appeal of the assessee, determining that the lease rent income should be classified as business income. Additionally, the expenditures on professional charges, interest on loans, and the gift of shares were deemed allowable under the Income Tax Act provisions. The decision highlighted the significance of assessing the business purpose and commercial expediency of the expenses. en-us Wed, 29 Jun 2016 00:00:00 +0530 Tue, 03 Apr 2018 21:20:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200543 The Tribunal allowed the appeal of the assessee, determining that the lease rent income should be classified as business income. Additionally, the expenditures on professional charges, interest on loans, and the gift of shares were deemed allowable under the Income Tax Act provisions. The decision highlighted the significance of assessing the business purpose and commercial expediency of the expenses. Case-Laws Income Tax Wed, 29 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200543