https://www.taxtmi.com/caselaws?id=274725 The Appellate Tribunal ITAT Chennai ruled in favor of the assessee on two key issues in the cited judgment. Firstly, it upheld the allowance of provision for non-performing assets as a deduction for the assessment year 2009-10, following precedents favoring the assessee. Secondly, it affirmed the assessment of rental receipts under the head "business" instead of "income from house property," based on the exploitation of business assets, consistent with relevant case laws and decisions. The Tribunal dismissed the Revenue's appeals on both issues. en-us Fri, 21 Mar 2014 00:00:00 +0530 Fri, 31 Aug 2018 06:46:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274725 The Appellate Tribunal ITAT Chennai ruled in favor of the assessee on two key issues in the cited judgment. Firstly, it upheld the allowance of provision for non-performing assets as a deduction for the assessment year 2009-10, following precedents favoring the assessee. Secondly, it affirmed the assessment of rental receipts under the head "business" instead of "income from house property," based on the exploitation of business assets, consistent with relevant case laws and decisions. The Tribunal dismissed the Revenue's appeals on both issues. Case-Laws Income Tax Fri, 21 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274725