https://www.taxtmi.com/caselaws?id=750956 ITAT Delhi ruled in favor of the assessee on rental income classification, holding that composite lease rental from building space with infrastructure constitutes income from other sources under Section 56(2)(iii), not house property income. The Tribunal followed precedent from earlier assessment years and Delhi HC's Jay Metals decision regarding expense claims under Section 57. However, ITAT rejected the assessee's challenge to Section 143(1) processing disallowances, stating rectification or first appeal are proper remedies. The AO was directed to allow full tax credit after verification. en-us Thu, 28 Mar 2024 00:00:00 +0530 Wed, 03 Apr 2024 18:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750956 ITAT Delhi ruled in favor of the assessee on rental income classification, holding that composite lease rental from building space with infrastructure constitutes income from other sources under Section 56(2)(iii), not house property income. The Tribunal followed precedent from earlier assessment years and Delhi HC's Jay Metals decision regarding expense claims under Section 57. However, ITAT rejected the assessee's challenge to Section 143(1) processing disallowances, stating rectification or first appeal are proper remedies. The AO was directed to allow full tax credit after verification. Case-Laws Income Tax Thu, 28 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750956