https://www.taxtmi.com/caselaws?id=408918 The Tribunal dismissed all revenue appeals, affirming the CIT(A)'s decisions. It upheld the deletion of disallowance under Section 14A, confirming no further disallowance beyond the assessee's own. The business loss related to NSEL was treated as a regular business loss, not speculative. Interest income on fixed deposits was classified as business income due to its business linkage. The Tribunal also directed the AO to allow the adjustment of brought forward business loss and unabsorbed depreciation against future business income, consistent with its earlier findings. All decisions favored the assessee, confirming the CIT(A)'s rulings. en-us Mon, 21 Jun 2021 00:00:00 +0530 Sat, 26 Oct 2024 16:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408918 The Tribunal dismissed all revenue appeals, affirming the CIT(A)'s decisions. It upheld the deletion of disallowance under Section 14A, confirming no further disallowance beyond the assessee's own. The business loss related to NSEL was treated as a regular business loss, not speculative. Interest income on fixed deposits was classified as business income due to its business linkage. The Tribunal also directed the AO to allow the adjustment of brought forward business loss and unabsorbed depreciation against future business income, consistent with its earlier findings. All decisions favored the assessee, confirming the CIT(A)'s rulings. Case-Laws Income Tax Mon, 21 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408918