https://www.taxtmi.com/caselaws?id=389519 The Tribunal allowed the claim of depreciation for rental expenses, stating they were allowable as a business expense since the premises were used for official work despite being meant for residential purposes. However, the issue of interest expenditure was sent back to the Assessing Officer for further examination to establish a clear nexus between the interest income earned and the interest expenditure claimed. The appeal was partly allowed in favor of the assessee, with the Tribunal ruling on the rental expenses and deferring the decision on interest expenditure for additional verification. en-us Fri, 22 Nov 2019 00:00:00 +0530 Tue, 10 Dec 2019 09:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389519 The Tribunal allowed the claim of depreciation for rental expenses, stating they were allowable as a business expense since the premises were used for official work despite being meant for residential purposes. However, the issue of interest expenditure was sent back to the Assessing Officer for further examination to establish a clear nexus between the interest income earned and the interest expenditure claimed. The appeal was partly allowed in favor of the assessee, with the Tribunal ruling on the rental expenses and deferring the decision on interest expenditure for additional verification. Case-Laws Income Tax Fri, 22 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389519