https://www.taxtmi.com/caselaws?id=396431 The Tribunal classified losses from a hotel unit at Hotel Trump International and Limited Liability Companies (LLCs) in the USA as "income from other sources" instead of "business loss." As a result, the assessee's appeal was allowed, directing the Assessing Officer to treat the losses accordingly. The Tribunal highlighted the importance of consistency in tax assessments and the necessity for the Revenue to establish the nature of income or loss. en-us Wed, 01 Jul 2020 00:00:00 +0530 Fri, 03 Jul 2020 14:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396431 The Tribunal classified losses from a hotel unit at Hotel Trump International and Limited Liability Companies (LLCs) in the USA as "income from other sources" instead of "business loss." As a result, the assessee's appeal was allowed, directing the Assessing Officer to treat the losses accordingly. The Tribunal highlighted the importance of consistency in tax assessments and the necessity for the Revenue to establish the nature of income or loss. Case-Laws Income Tax Wed, 01 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396431