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2017 (1) TMI 1755 - AT - Income TaxCorrect head income - Classification of rental income received by the assessee from the commercial complex - Charging of rental income as Business income and allow the expenditure - HELD THAT:- As relying on M/S KEYARAM HOTEL PVT. LTD. AND VICE-VERSA [2016 (6) TMI 427 - ITAT CHENNAI] direct the Assessing Officer to assess 75% of the income of the assessee as income from house property and 25% as income from Business and allow the related expenditure and partly allowed the ground of the assessee. Disallowance u/s 14A of the Act r.w.r. 8D - HELD THAT:- AO made disallowance u/s. 14A of the Act by fixed percentage 0.5%. Whereas, the Ld. CIT(A) considered these facts and Directed the Assessing Officer to re-calculate based on the provisions of section 14A r.w.r. 8D as they are mandatorily applicable. Therefore, we are not in inclined to interfere with the order of the CIT(A) and upheld the same and allow the ground of the assessee for statistical purpose
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