https://www.taxtmi.com/caselaws?id=405830 The Tribunal ruled in favor of the assessee, classifying rental income as "Income from House Property" and maintenance income as "Income from Business and Profession" in line with past assessments. It upheld the right to claim a standard deduction under Section 24 and rejected the arbitrary computation of maintenance income by the lower authorities. Emphasizing consistency, the Tribunal found no justification for deviating from prior tax treatment, citing legal precedents. Ultimately, the Tribunal overturned the lower authorities' decisions, deciding in favor of the assessee on all issues. en-us Fri, 26 Mar 2021 00:00:00 +0530 Tue, 30 Mar 2021 09:09:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405830 The Tribunal ruled in favor of the assessee, classifying rental income as "Income from House Property" and maintenance income as "Income from Business and Profession" in line with past assessments. It upheld the right to claim a standard deduction under Section 24 and rejected the arbitrary computation of maintenance income by the lower authorities. Emphasizing consistency, the Tribunal found no justification for deviating from prior tax treatment, citing legal precedents. Ultimately, the Tribunal overturned the lower authorities' decisions, deciding in favor of the assessee on all issues. Case-Laws Income Tax Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405830