https://www.taxtmi.com/caselaws?id=396670 The High Court determined that income from letting out property with amenities qualifies as business income, not income from house property. The appeal by the revenue was dismissed, favoring the assessee. Regarding disallowance under Section 14A read with Rule 8D, the Court upheld the restriction to the extent of exempted income, dismissing the revenue's appeal and ruling in favor of the assessee. The Court's decisions were based on legal principles, circulars, and precedents, providing a detailed analysis in favor of the assessee on both issues. en-us Tue, 07 Jul 2020 00:00:00 +0530 Wed, 15 Jul 2020 13:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396670 The High Court determined that income from letting out property with amenities qualifies as business income, not income from house property. The appeal by the revenue was dismissed, favoring the assessee. Regarding disallowance under Section 14A read with Rule 8D, the Court upheld the restriction to the extent of exempted income, dismissing the revenue's appeal and ruling in favor of the assessee. The Court's decisions were based on legal principles, circulars, and precedents, providing a detailed analysis in favor of the assessee on both issues. Case-Laws Income Tax Tue, 07 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396670