https://www.taxtmi.com/caselaws?id=367273 The Tribunal upheld the treatment of lease rental income as "income from house property" instead of business income, disallowing depreciation on the building. Interest claimed as business expenditure was allowed by the Tribunal, stating it was utilized for business purposes. Notional interest on advances to sister concerns and various parties was confirmed, with some issues remanded for further consideration. The addition of notional interest on investments in unquoted shares was upheld. Despite filing confirmation letters, the addition made under section 68 was confirmed due to lack of creditworthiness proof. en-us Mon, 03 Sep 2018 00:00:00 +0530 Mon, 17 Sep 2018 19:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367273 The Tribunal upheld the treatment of lease rental income as "income from house property" instead of business income, disallowing depreciation on the building. Interest claimed as business expenditure was allowed by the Tribunal, stating it was utilized for business purposes. Notional interest on advances to sister concerns and various parties was confirmed, with some issues remanded for further consideration. The addition of notional interest on investments in unquoted shares was upheld. Despite filing confirmation letters, the addition made under section 68 was confirmed due to lack of creditworthiness proof. Case-Laws Income Tax Mon, 03 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367273