High Court directs Tribunal on interest income classification under Income-tax Act, 1961

The High Court of Delhi directed the Tribunal to refer a question of law regarding the classification of interest earned by the assessee on short-term bank deposit as either "Business" income or "Other sources" income under the Income-tax Act, 1961. The court found that this raised a question of law and ordered the Tribunal to state a case on this matter.

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The High Court of Delhi directed the Tribunal to refer a question of law regarding the classification of interest earned by the assessee on short-term bank deposit as either "Business" income or "Other sources" income under the Income-tax Act, 1961. The court found that this raised a question of law and ordered the Tribunal to state a case on this matter.

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