https://www.taxtmi.com/caselaws?id=286940 The Tribunal remitted the depreciation issue back to the Assessing Officer (AO) for reconsideration, emphasizing the AO's limited jurisdiction in scrutiny cases. It upheld the classification of income from letting out storage space as "income from other sources." The Tribunal set aside the Commissioner's disallowance of certain expenses and reiterated that both the AO and the Commissioner of Income-tax (Appeals) have restricted powers in limited scrutiny cases, confined to claims specified in the notice. The AO was directed to reassess the depreciation claim in accordance with the law, while the Commissioner's decisions on unrelated issues were overturned. en-us Wed, 19 Apr 2006 00:00:00 +0530 Sat, 09 Mar 2024 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286940 The Tribunal remitted the depreciation issue back to the Assessing Officer (AO) for reconsideration, emphasizing the AO's limited jurisdiction in scrutiny cases. It upheld the classification of income from letting out storage space as "income from other sources." The Tribunal set aside the Commissioner's disallowance of certain expenses and reiterated that both the AO and the Commissioner of Income-tax (Appeals) have restricted powers in limited scrutiny cases, confined to claims specified in the notice. The AO was directed to reassess the depreciation claim in accordance with the law, while the Commissioner's decisions on unrelated issues were overturned. Case-Laws Income Tax Wed, 19 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286940