https://www.taxtmi.com/caselaws?id=291945 The Tribunal upheld the CIT(A)'s decisions classifying certain incomes as business income, allowing depreciation on estimated income, and invalidating rectification under Section 154 for debatable issues. The Tribunal set aside the CIT's revision under Section 263 on issues already under appeal. The assessee's cross objections were dismissed due to filing delays. The Tribunal's analysis reinforced principles of income classification, statutory deduction allowance, and procedural correctness in tax assessments. en-us Wed, 28 Aug 2019 00:00:00 +0530 Tue, 01 Dec 2020 15:29:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291945 The Tribunal upheld the CIT(A)'s decisions classifying certain incomes as business income, allowing depreciation on estimated income, and invalidating rectification under Section 154 for debatable issues. The Tribunal set aside the CIT's revision under Section 263 on issues already under appeal. The assessee's cross objections were dismissed due to filing delays. The Tribunal's analysis reinforced principles of income classification, statutory deduction allowance, and procedural correctness in tax assessments. Case-Laws Income Tax Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291945