https://www.taxtmi.com/caselaws?id=466350 Disallowance of subleasing expenses was rejected as commercially expedient conduct of a prudent businessman; appeal dismissed. Adjustment to revenue recognition and construction cost ratios was upheld, with no error found in the appellate findings and the related grounds dismissed. Disallowance of interest expenses was not sustained because the assessee consistently followed the mercantile accounting/PCM method and AO should not selectively alter accounting method; revenue ground dismissed. Disallowance under the exempt income jurisprudence is treated as settled by precedent. Common area maintenance receipts were held to be business receipts and taxable as business income. Head-office unallocable expense disallowance was deleted. Deemed rental addition was deleted following consistency principles. en-us Fri, 28 Feb 2025 00:00:00 +0530 Sun, 01 Feb 2026 19:10:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466350 Disallowance of subleasing expenses was rejected as commercially expedient conduct of a prudent businessman; appeal dismissed. Adjustment to revenue recognition and construction cost ratios was upheld, with no error found in the appellate findings and the related grounds dismissed. Disallowance of interest expenses was not sustained because the assessee consistently followed the mercantile accounting/PCM method and AO should not selectively alter accounting method; revenue ground dismissed. Disallowance under the exempt income jurisprudence is treated as settled by precedent. Common area maintenance receipts were held to be business receipts and taxable as business income. Head-office unallocable expense disallowance was deleted. Deemed rental addition was deleted following consistency principles. Case-Laws Income Tax Fri, 28 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466350