https://www.taxtmi.com/caselaws?id=413055 Regular and systematic money-lending income may be assessed as business income even without a money-lending licence or NBFC registration where earlier years were accepted on the same facts, and the rule of consistency supports the same treatment. Employee benefit expenses were allowable because the assessee produced employee details, PAN, job particulars and payment records, and no meaningful contrary enquiry showed lack of business purpose. Legal and professional fees were also allowable because the bills and professional particulars showed a business nexus, including finance-related work and routine compliance matters. en-us Wed, 29 Sep 2021 00:00:00 +0530 Mon, 04 Oct 2021 08:58:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413055 Regular and systematic money-lending income may be assessed as business income even without a money-lending licence or NBFC registration where earlier years were accepted on the same facts, and the rule of consistency supports the same treatment. Employee benefit expenses were allowable because the assessee produced employee details, PAN, job particulars and payment records, and no meaningful contrary enquiry showed lack of business purpose. Legal and professional fees were also allowable because the bills and professional particulars showed a business nexus, including finance-related work and routine compliance matters. Case-Laws Income Tax Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413055