https://www.taxtmi.com/caselaws?id=61429 The Tribunal upheld the Appellate Authority Commissioner's decision, allowing the deduction of interest from rental income for the assessment year 1982-83. It found that the appellant's registration as a firm and the nature of the business activity supported the allowance of the interest deduction against rental income, contrary to the Income Tax Officer's disallowance. The Tribunal dismissed the Revenue's appeals, emphasizing the proper classification of income and the application of relevant legal precedents in permitting the interest deduction. en-us Fri, 28 Jul 1989 00:00:00 +0530 Wed, 12 Jan 2011 15:59:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61429 The Tribunal upheld the Appellate Authority Commissioner's decision, allowing the deduction of interest from rental income for the assessment year 1982-83. It found that the appellant's registration as a firm and the nature of the business activity supported the allowance of the interest deduction against rental income, contrary to the Income Tax Officer's disallowance. The Tribunal dismissed the Revenue's appeals, emphasizing the proper classification of income and the application of relevant legal precedents in permitting the interest deduction. Case-Laws Income Tax Fri, 28 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61429