https://www.taxtmi.com/caselaws?id=293237 Where an assessee has sufficient interest-free funds, investments and advances are presumed to have been made from those own funds unless the Revenue establishes a direct nexus with borrowed money; on those facts, interest disallowance under section 36(1)(iii) is not justified and Rule 8D does not apply to the year considered. Receipts from letting premises with composite commercial facilities such as furniture, electricity, IT support, lift and secretarial services are not treated as bare house property income; where the primary object is commercial exploitation, the receipts are assessable as business income. en-us Fri, 21 Sep 2012 00:00:00 +0530 Mon, 01 Feb 2021 13:01:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293237 Where an assessee has sufficient interest-free funds, investments and advances are presumed to have been made from those own funds unless the Revenue establishes a direct nexus with borrowed money; on those facts, interest disallowance under section 36(1)(iii) is not justified and Rule 8D does not apply to the year considered. Receipts from letting premises with composite commercial facilities such as furniture, electricity, IT support, lift and secretarial services are not treated as bare house property income; where the primary object is commercial exploitation, the receipts are assessable as business income. Case-Laws Income Tax Fri, 21 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293237