https://www.taxtmi.com/caselaws?id=394813 The Tribunal held that the AO exceeded authority in rectifying a deduction denial under section 80IAB, emphasizing rectification is for correcting clear errors, not debatable issues. Lease/rental income from SEZ was deemed eligible for deduction under section 80IAB, irrespective of classification. The Tribunal directed reevaluation of interest expenditure disallowance under section 36(1)(iii) in light of SEZ income reclassification. The appeal was allowed in part, with directions for reassessment by the AO based on income nature. en-us Thu, 05 Mar 2020 00:00:00 +0530 Sat, 25 Apr 2020 12:25:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394813 The Tribunal held that the AO exceeded authority in rectifying a deduction denial under section 80IAB, emphasizing rectification is for correcting clear errors, not debatable issues. Lease/rental income from SEZ was deemed eligible for deduction under section 80IAB, irrespective of classification. The Tribunal directed reevaluation of interest expenditure disallowance under section 36(1)(iii) in light of SEZ income reclassification. The appeal was allowed in part, with directions for reassessment by the AO based on income nature. Case-Laws Income Tax Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394813