https://www.taxtmi.com/caselaws?id=414592 The Tribunal ruled in favor of the assessee, limiting the disallowance under Section 14A of the Income Tax Act to the exempt income earned during the year. It also rejected the addition of notional income from unsold inventory as "Income from House Property" and directed the taxability of lease rental income from IT Parks under "Income from Business & Profession." Additionally, the Tribunal vacated the disallowance of brokerage expenses, citing consistent treatment in previous assessments and discouraging inconsistent approaches by the Revenue. The Tribunal allowed the assessee's appeals for A.Y 2015-16 and A.Y 2012-13, while dismissing the Revenue's appeal for A.Y 2015-16. en-us Mon, 25 Oct 2021 00:00:00 +0530 Thu, 11 Nov 2021 19:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414592 The Tribunal ruled in favor of the assessee, limiting the disallowance under Section 14A of the Income Tax Act to the exempt income earned during the year. It also rejected the addition of notional income from unsold inventory as "Income from House Property" and directed the taxability of lease rental income from IT Parks under "Income from Business & Profession." Additionally, the Tribunal vacated the disallowance of brokerage expenses, citing consistent treatment in previous assessments and discouraging inconsistent approaches by the Revenue. The Tribunal allowed the assessee's appeals for A.Y 2015-16 and A.Y 2012-13, while dismissing the Revenue's appeal for A.Y 2015-16. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414592