https://www.taxtmi.com/caselaws?id=369784 The Tribunal dismissed all appeals by the Revenue, upholding the Commissioner (Appeals)' decisions. It found the reopening of the assessment under Section 147 invalid, classified rental income as income from house property, and allowed the deduction of interest on borrowed capital for construction purposes under Section 24(b). The Tribunal emphasized the importance of the assessee's intention and consistency in the Department's stance across different assessment years. en-us Tue, 30 Oct 2018 00:00:00 +0530 Thu, 01 Nov 2018 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369784 The Tribunal dismissed all appeals by the Revenue, upholding the Commissioner (Appeals)' decisions. It found the reopening of the assessment under Section 147 invalid, classified rental income as income from house property, and allowed the deduction of interest on borrowed capital for construction purposes under Section 24(b). The Tribunal emphasized the importance of the assessee's intention and consistency in the Department's stance across different assessment years. Case-Laws Income Tax Tue, 30 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369784