Interest income on shares included in total income of assessee-settlor. Ruling favors Revenue.

The High Court of Bombay held that interest income on shares should be considered part of the assessee-settlor's total income. The ruling aligned with a prior judgment and favored the Revenue, with no costs awarded. [Case: K. M. Sheth v. CIT, 1977]

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The High Court of Bombay ruled that interest income on shares must be included in the total income of the assessee-settlor. The decision was based on a previous judgment and favored the Revenue. No costs were awarded. [Case: K. M. Sheth v. CIT, 1977]

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