https://www.taxtmi.com/caselaws?id=62722 The Tribunal allowed the appeal of the assessee, directing the AO to rectify the order and permit the deduction of various expenses against interest income and profit on the sale of shares. The Tribunal considered the consistent treatment of interest income as business income due to the assessee's long-standing engagement in money lending activities, despite the lack of RBI registration for financing business during the relevant year. Additionally, the Tribunal ruled in favor of the assessee for the minor expenses claimed in the P&L account necessary for maintaining the establishment, citing precedents from Allahabad High Court and Madras High Court. en-us Wed, 10 Nov 2004 00:00:00 +0530 Fri, 21 Jan 2011 13:00:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62722 The Tribunal allowed the appeal of the assessee, directing the AO to rectify the order and permit the deduction of various expenses against interest income and profit on the sale of shares. The Tribunal considered the consistent treatment of interest income as business income due to the assessee's long-standing engagement in money lending activities, despite the lack of RBI registration for financing business during the relevant year. Additionally, the Tribunal ruled in favor of the assessee for the minor expenses claimed in the P&L account necessary for maintaining the establishment, citing precedents from Allahabad High Court and Madras High Court. Case-Laws Income Tax Wed, 10 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62722