https://www.taxtmi.com/caselaws?id=397493 The Tribunal partly allowed the appeal of the partnership firm engaged in Builders and Developers business. It set aside the addition of deemed rental income from unsold flats under Sec. 23(4) as Income from House Property for the assessment year 2012-13. However, the Tribunal upheld the disallowance under Sec. 40A(3) for a payment made through a bearer cheque exceeding the specified limit. The decision was based on the absence of contrary binding decisions presented by the Revenue and the interpretation of relevant legal provisions. en-us Mon, 17 Aug 2020 00:00:00 +0530 Wed, 19 Aug 2020 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397493 The Tribunal partly allowed the appeal of the partnership firm engaged in Builders and Developers business. It set aside the addition of deemed rental income from unsold flats under Sec. 23(4) as Income from House Property for the assessment year 2012-13. However, the Tribunal upheld the disallowance under Sec. 40A(3) for a payment made through a bearer cheque exceeding the specified limit. The decision was based on the absence of contrary binding decisions presented by the Revenue and the interpretation of relevant legal provisions. Case-Laws Income Tax Mon, 17 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397493