https://www.taxtmi.com/caselaws?id=371349 The Tribunal addressed issues regarding addition based on profit element, rental income, and disallowance of interest on loans to sister concerns. The appeal against the addition of profit element in work in progress was remanded for verification due to lack of initial details. Addition of rental income and disallowance of expenses were upheld as the premises were not fully used for business. Disallowance of interest on loans was partially allowed as the assessee had sufficient interest-free funds. The Tribunal's judgment ensured a fair assessment and compliance with legal provisions and precedents. en-us Thu, 29 Nov 2018 00:00:00 +0530 Mon, 03 Dec 2018 09:05:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371349 The Tribunal addressed issues regarding addition based on profit element, rental income, and disallowance of interest on loans to sister concerns. The appeal against the addition of profit element in work in progress was remanded for verification due to lack of initial details. Addition of rental income and disallowance of expenses were upheld as the premises were not fully used for business. Disallowance of interest on loans was partially allowed as the assessee had sufficient interest-free funds. The Tribunal's judgment ensured a fair assessment and compliance with legal provisions and precedents. Case-Laws Income Tax Thu, 29 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371349