https://www.taxtmi.com/caselaws?id=305954 The Tribunal partly allowed the Revenue's appeals challenging the treatment of mutuality in assessing business income, disallowance of depreciation on assets, and other expenses. The Tribunal upheld the concept of mutuality, reversing the treatment of business income, and allowed depreciation based on previous decisions. The appeals on disallowance of loss on sale of fixed assets and late payment charges were dismissed as no deductions were claimed based on the principle of mutuality. en-us Tue, 09 Nov 2021 00:00:00 +0530 Mon, 02 Jan 2023 08:34:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305954 The Tribunal partly allowed the Revenue's appeals challenging the treatment of mutuality in assessing business income, disallowance of depreciation on assets, and other expenses. The Tribunal upheld the concept of mutuality, reversing the treatment of business income, and allowed depreciation based on previous decisions. The appeals on disallowance of loss on sale of fixed assets and late payment charges were dismissed as no deductions were claimed based on the principle of mutuality. Case-Laws Income Tax Tue, 09 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305954