https://www.taxtmi.com/caselaws?id=402070 The Tribunal allowed the assessee's trading loss of Rs. 17.01 Lacs, rejecting the disallowance by the AO and CIT(A) based on inactivity in trading. Additionally, the Tribunal determined that the rental income from a property should be based on municipal valuation unless lower than the actual rent received, overturning the AO's additions. The Tribunal directed the AO to recompute interest levied under Sections 234A, 234B, and 234C in accordance with the law. The revenue's appeal was dismissed, and the assessee's appeals for various assessment years were allowed based on the Tribunal's earlier decisions. en-us Thu, 17 Dec 2020 00:00:00 +0530 Wed, 23 Dec 2020 15:08:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402070 The Tribunal allowed the assessee's trading loss of Rs. 17.01 Lacs, rejecting the disallowance by the AO and CIT(A) based on inactivity in trading. Additionally, the Tribunal determined that the rental income from a property should be based on municipal valuation unless lower than the actual rent received, overturning the AO's additions. The Tribunal directed the AO to recompute interest levied under Sections 234A, 234B, and 234C in accordance with the law. The revenue's appeal was dismissed, and the assessee's appeals for various assessment years were allowed based on the Tribunal's earlier decisions. Case-Laws Income Tax Thu, 17 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402070