https://www.taxtmi.com/caselaws?id=284560 The Tribunal held that income from royalty, rent, and services is assessable under "Income from business," while film/video shooting and interest on income tax refund should be under "Income from other sources." Deduction u/s 80IA was disputed but to be re-examined. Assets like Runway classified as "Plant" for depreciation. Set off of brought forward depreciation became irrelevant due to income classification. Computer peripherals to depreciate at the computer rate. Disallowance of expenses upheld due to inadequate reserves. Depreciation on electrical fittings restricted to 10%. Penalty proceedings u/s 271(1)(c) upheld. Appeals partly allowed for both parties. en-us Fri, 04 May 2012 00:00:00 +0530 Tue, 26 Nov 2019 12:09:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284560 The Tribunal held that income from royalty, rent, and services is assessable under "Income from business," while film/video shooting and interest on income tax refund should be under "Income from other sources." Deduction u/s 80IA was disputed but to be re-examined. Assets like Runway classified as "Plant" for depreciation. Set off of brought forward depreciation became irrelevant due to income classification. Computer peripherals to depreciate at the computer rate. Disallowance of expenses upheld due to inadequate reserves. Depreciation on electrical fittings restricted to 10%. Penalty proceedings u/s 271(1)(c) upheld. Appeals partly allowed for both parties. Case-Laws Income Tax Fri, 04 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284560