https://www.taxtmi.com/caselaws?id=402441 The ITAT partially allowed the assessee's appeal, directing the AO to treat 50% of consultancy receipts as expenditure, allowing a deduction of Rs. 17,65,696, and the remaining as salary income. The ITAT remitted the lack of opportunity for rectification of Form 26AS and the misclassification of interest income issues back to the AO for reconsideration, with instructions to allow the submission of additional evidence. The matter of disallowance of deduction for interest on housing loan was remitted for verification, and the non-granting of credit for TDS and Self-Assessment Tax was also sent back to the AO for fresh consideration. en-us Wed, 29 Jul 2020 00:00:00 +0530 Sat, 02 Jan 2021 10:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402441 The ITAT partially allowed the assessee's appeal, directing the AO to treat 50% of consultancy receipts as expenditure, allowing a deduction of Rs. 17,65,696, and the remaining as salary income. The ITAT remitted the lack of opportunity for rectification of Form 26AS and the misclassification of interest income issues back to the AO for reconsideration, with instructions to allow the submission of additional evidence. The matter of disallowance of deduction for interest on housing loan was remitted for verification, and the non-granting of credit for TDS and Self-Assessment Tax was also sent back to the AO for fresh consideration. Case-Laws Income Tax Wed, 29 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402441