https://www.taxtmi.com/caselaws?id=305308 The Tribunal partially allowed both appeals for statistical purposes, directing the Assessing Officer to further examine and verify specific issues. In the first issue regarding the disallowance of expenses from business income, it was emphasized that expenses should be linked to business activities, and the burden of proof lies with the revenue. The Tribunal instructed the AO to assess the nature of advertisement and business promotion expenses related to rental income. In the second issue concerning disallowance under Section 14A of the Income Tax Act, 1961, the Tribunal remanded the matter to the AO to investigate the availability of interest-free funds and consider relevant legal precedents. en-us Tue, 12 Apr 2016 00:00:00 +0530 Tue, 29 Nov 2022 09:12:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305308 The Tribunal partially allowed both appeals for statistical purposes, directing the Assessing Officer to further examine and verify specific issues. In the first issue regarding the disallowance of expenses from business income, it was emphasized that expenses should be linked to business activities, and the burden of proof lies with the revenue. The Tribunal instructed the AO to assess the nature of advertisement and business promotion expenses related to rental income. In the second issue concerning disallowance under Section 14A of the Income Tax Act, 1961, the Tribunal remanded the matter to the AO to investigate the availability of interest-free funds and consider relevant legal precedents. Case-Laws Income Tax Tue, 12 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305308