https://www.taxtmi.com/caselaws?id=385332 The tribunal upheld the decision that income from the cinema hall, gaming zone, and event management area should be classified as business income rather than income from house property. Depreciation was allowed on the cinema hall but not on the gaming zone and event management area. Common expenses were allocated based on their linkage with business activities. The tribunal also ruled that unabsorbed business loss and depreciation could not be carried forward without a revised return. The appeal was dismissed, affirming the Assessing Officer's calculations of net income. en-us Fri, 30 Aug 2019 00:00:00 +0530 Mon, 02 Sep 2019 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385332 The tribunal upheld the decision that income from the cinema hall, gaming zone, and event management area should be classified as business income rather than income from house property. Depreciation was allowed on the cinema hall but not on the gaming zone and event management area. Common expenses were allocated based on their linkage with business activities. The tribunal also ruled that unabsorbed business loss and depreciation could not be carried forward without a revised return. The appeal was dismissed, affirming the Assessing Officer's calculations of net income. Case-Laws Income Tax Fri, 30 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385332