https://www.taxtmi.com/caselaws?id=382431 The ITAT upheld the classification of income as "Income from Other Sources" instead of "Business Income" and disallowed the deduction under Section 80P. However, the ITAT directed the AO to allow pro rata expenses for computing the deduction under Section 80P after verification, partially allowing the appeal for statistical purposes. The grounds related to the charging of interest under Sections 234B and 234C were dismissed as mandatory provisions. Overall, the appeal was partly allowed for statistical purposes. en-us Mon, 01 Jul 2019 00:00:00 +0530 Wed, 03 Jul 2019 08:11:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382431 The ITAT upheld the classification of income as "Income from Other Sources" instead of "Business Income" and disallowed the deduction under Section 80P. However, the ITAT directed the AO to allow pro rata expenses for computing the deduction under Section 80P after verification, partially allowing the appeal for statistical purposes. The grounds related to the charging of interest under Sections 234B and 234C were dismissed as mandatory provisions. Overall, the appeal was partly allowed for statistical purposes. Case-Laws Income Tax Mon, 01 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382431