https://www.taxtmi.com/caselaws?id=276031 The Tribunal dismissed the Revenue's appeal challenging the disallowance of business expenses and income treatment on sub lease of land, as well as the disallowance of interest on borrowed capital utilized for property construction. The Tribunal upheld the Ld.CIT(A)'s decision, allowing the claimed expenses and treating the income under business income. It was determined that the assessee had commenced business activity earlier, and there were no contradictory facts presented by the Revenue for the current year. Therefore, the Tribunal dismissed all grounds of the appeal on September 15, 2014. en-us Mon, 15 Sep 2014 00:00:00 +0530 Fri, 26 Oct 2018 06:01:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276031 The Tribunal dismissed the Revenue's appeal challenging the disallowance of business expenses and income treatment on sub lease of land, as well as the disallowance of interest on borrowed capital utilized for property construction. The Tribunal upheld the Ld.CIT(A)'s decision, allowing the claimed expenses and treating the income under business income. It was determined that the assessee had commenced business activity earlier, and there were no contradictory facts presented by the Revenue for the current year. Therefore, the Tribunal dismissed all grounds of the appeal on September 15, 2014. Case-Laws Income Tax Mon, 15 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276031