Interest on short-term deposits treated as income from other sources; remand to Tribunal rejected.

Interest earned on short-term deposits was treated as income from other sources and not as business income, following earlier decisions that such interest cannot assume a business character. The court also declined to remand the matter to the Tribunal, noting that the case had already been considered on merits and that a remand would serve no useful purpose. The operative result was that the interest was assessable under the head of income from other sources, with the remand request rejected.

---

---

Issues: Whether interest earned on short-term deposits is to be assessed as income from other sources rather than income from business, and whether the matter should be remanded to the Tribunal.

Analysis: The dispute concerned the character of interest earned on deposits. The Court noted that the issue was covered by earlier decisions holding that interest on short-term deposits cannot be treated as business income. It also declined to remand the matter, observing that the Tribunal had already considered the case on merits and that a remand would serve no useful purpose.

Conclusion: The interest was held assessable as income from other sources, not as business income, and the request for remand was rejected.

---