Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
HC determined that interest income from staff loans and other loans, earned by an electricity distribution entity, constitutes business income. Drawing from precedent in Gujarat Urja Vikas Nigam Limited and Gujarat Energy Transmission Corporation Ltd., the court held that such interest is directly related to the assessee's core business operations. Consequently, no substantial question of law exists, and the interest should be categorized as business income rather than income from other sources. The assessee's appeal was ultimately allowed, affirming the treatment of loan interest as an integral component of business revenue.
HC determined that interest income from staff loans and other loans, earned by an electricity distribution entity, constitutes business income. Drawing from precedent in Gujarat Urja Vikas Nigam Limited and Gujarat Energy Transmission Corporation Ltd., the court held that such interest is directly related to the assessee's core business operations. Consequently, no substantial question of law exists, and the interest should be categorized as business income rather than income from other sources. The assessee's appeal was ultimately allowed, affirming the treatment of loan interest as an integral component of business revenue.
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