https://www.taxtmi.com/caselaws?id=310309 The Tribunal dismissed the revenue's appeals for AY 2016-17 and AY 2017-18, affirming the Ld. CIT(A)'s decisions. It upheld the classification of lease rental income as business income, allowed new claims in abated assessments, and validated interest expenses as genuine business expenditures. The Tribunal also permitted the depreciation claim based on the original cost of assets. These rulings were consistent with previous Tribunal and High Court decisions, particularly concerning the classification of income and allowance of claims in abated assessment years. en-us Tue, 31 Jan 2023 00:00:00 +0530 Wed, 18 Oct 2023 05:30:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310309 The Tribunal dismissed the revenue's appeals for AY 2016-17 and AY 2017-18, affirming the Ld. CIT(A)'s decisions. It upheld the classification of lease rental income as business income, allowed new claims in abated assessments, and validated interest expenses as genuine business expenditures. The Tribunal also permitted the depreciation claim based on the original cost of assets. These rulings were consistent with previous Tribunal and High Court decisions, particularly concerning the classification of income and allowance of claims in abated assessment years. Case-Laws Income Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310309