Sponsorship charges on study of daughter of Director allowable if made out of business exigency

1.    Rules of consistency must be followed unless and until contrary facts are brought on the record. Income from letting out a portion of the property would continue to be taxed under the head ‘Income from House Property’ as was assessed in earlier year also, if the intention of the assessee is to earn rental income.

2.    If the A.O. is not satisfied with the maintenance of the accounts with respect to the expense claimed by the assessee, he should have pointed out a specific defect or asked the assessee to furnis

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