https://www.taxtmi.com/caselaws?id=413358 The Tribunal partly allowed the appeal by directing the AO to allow property tax and interest deductions for rental income, deleting the addition of USD 10,000 loan. The issue of USD 5,000 loan was remanded for verification, while penalty proceedings under Section 271(1)(c) for concealment of income were dismissed as premature. en-us Mon, 04 Oct 2021 00:00:00 +0530 Sat, 09 Oct 2021 08:20:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413358 The Tribunal partly allowed the appeal by directing the AO to allow property tax and interest deductions for rental income, deleting the addition of USD 10,000 loan. The issue of USD 5,000 loan was remanded for verification, while penalty proceedings under Section 271(1)(c) for concealment of income were dismissed as premature. Case-Laws Income Tax Mon, 04 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413358