In the result, both the above appeals of the Assessee are dismissed
Bench: the appeal is finally heard.
2)(a)(i). The assessee also disclosed long-term capital gain from sale of shops at Pakhowal, Ludhiana, and claimed indexed cost of acquisition. 4.1 The AO held that all income must first be classified under the proper heads before considering deductions. Based on judicial precedents, he treated interest from commercial banks as “income from other sources,” rejecting the assessee