https://www.taxtmi.com/caselaws?id=437772 The tribunal partly allowed both appeals for statistical purposes, with decisions pronounced on May 12, 2023. The reclassification of land from 'stock-in-trade' to 'capital asset' was rejected, while the disallowance of expenditure was allowed. The tribunal upheld the classification of interest income as 'income from other sources' and directed the set-off of business loss against interest income. The grounds related to the levy of interest under sections 234B and 234D were acknowledged as consequential. en-us Fri, 12 May 2023 00:00:00 +0530 Mon, 15 May 2023 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437772 The tribunal partly allowed both appeals for statistical purposes, with decisions pronounced on May 12, 2023. The reclassification of land from 'stock-in-trade' to 'capital asset' was rejected, while the disallowance of expenditure was allowed. The tribunal upheld the classification of interest income as 'income from other sources' and directed the set-off of business loss against interest income. The grounds related to the levy of interest under sections 234B and 234D were acknowledged as consequential. Case-Laws Income Tax Fri, 12 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437772