https://www.taxtmi.com/caselaws?id=288941 The Tribunal partially allowed the appeal, permitting set off of certain disclosed items against losses but denying set off for excess cash and investment in residential property. The Tribunal held that the disclosed income linked to business activities should be treated as business income and made available for set off against losses. However, excess cash was deemed income under section 68, assessable as "income from other sources," and investment in residential property was considered an appropriation of income, not eligible for set off. en-us Wed, 21 Mar 2018 00:00:00 +0530 Tue, 07 Jul 2020 11:16:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288941 The Tribunal partially allowed the appeal, permitting set off of certain disclosed items against losses but denying set off for excess cash and investment in residential property. The Tribunal held that the disclosed income linked to business activities should be treated as business income and made available for set off against losses. However, excess cash was deemed income under section 68, assessable as "income from other sources," and investment in residential property was considered an appropriation of income, not eligible for set off. Case-Laws Income Tax Wed, 21 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288941