https://www.taxtmi.com/caselaws?id=280070 The appellant's challenge against the Assessing Officer's decision not to set off interest income against construction expenses was rejected by the CIT(A), emphasizing that income from surplus funds should be taxed separately. The appellant's argument regarding the inapplicability of a specific court ruling was dismissed. The decision to not allow setting off a business loss against additions made was upheld by the CIT(A). However, the Tribunal permitted the introduction of additional evidence, highlighting the importance of considering all relevant evidence in tax assessments and ensuring a fair review process. en-us Mon, 24 Sep 2018 00:00:00 +0530 Fri, 19 Apr 2019 05:57:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280070 The appellant's challenge against the Assessing Officer's decision not to set off interest income against construction expenses was rejected by the CIT(A), emphasizing that income from surplus funds should be taxed separately. The appellant's argument regarding the inapplicability of a specific court ruling was dismissed. The decision to not allow setting off a business loss against additions made was upheld by the CIT(A). However, the Tribunal permitted the introduction of additional evidence, highlighting the importance of considering all relevant evidence in tax assessments and ensuring a fair review process. Case-Laws Income Tax Mon, 24 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280070