https://www.taxtmi.com/caselaws?id=280922 The appeal was partially allowed in a case involving the addition of interest difference between borrowed and lent amounts and the treatment of income from the sale of flats. The court found that the interest difference should be considered in light of commercial expediency and remanded the matter for a fresh decision. Additionally, income from the sale of flats was correctly treated as business income due to the property being held for rental income purposes. The Assessing Officer was directed to compute long-term capital gains for the flats sold. The decision was pronounced on 19/12/2018 by the ITAT. en-us Wed, 19 Dec 2018 00:00:00 +0530 Sun, 26 May 2019 14:42:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280922 The appeal was partially allowed in a case involving the addition of interest difference between borrowed and lent amounts and the treatment of income from the sale of flats. The court found that the interest difference should be considered in light of commercial expediency and remanded the matter for a fresh decision. Additionally, income from the sale of flats was correctly treated as business income due to the property being held for rental income purposes. The Assessing Officer was directed to compute long-term capital gains for the flats sold. The decision was pronounced on 19/12/2018 by the ITAT. Case-Laws Income Tax Wed, 19 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280922