https://www.taxtmi.com/caselaws?id=376983 The Court upheld the decision of the lower authorities regarding the classification of income derived from rent as "Business Income." The appellant's claim for double deductions on the same rented property was disallowed, as the Court found the income solely from renting out property did not qualify for a deduction under section 24 of the Income Tax Act. The Court emphasized that only one deduction is permissible for such income, leading to the dismissal of the appeal in favor of the Revenue and against the Assessee. en-us Wed, 06 Mar 2019 00:00:00 +0530 Mon, 05 Aug 2019 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376983 The Court upheld the decision of the lower authorities regarding the classification of income derived from rent as "Business Income." The appellant's claim for double deductions on the same rented property was disallowed, as the Court found the income solely from renting out property did not qualify for a deduction under section 24 of the Income Tax Act. The Court emphasized that only one deduction is permissible for such income, leading to the dismissal of the appeal in favor of the Revenue and against the Assessee. Case-Laws Income Tax Wed, 06 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376983