https://www.taxtmi.com/caselaws?id=65222 The ITAT Delhi-E upheld the CIT(A)'s decision that interest income earned by the assessee should be treated as business income for assessment years 1989-90 and 1990-91. The ITAT referenced legal precedents and principles on defining "business" and treatment of interest income from surplus funds. It concluded that the interest income was part of business income due to the purposeful use of surplus funds for business expansion. As a result, the Department's appeals were dismissed for both years. en-us Thu, 16 Dec 1999 00:00:00 +0530 Mon, 14 Feb 2011 12:43:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65222 The ITAT Delhi-E upheld the CIT(A)'s decision that interest income earned by the assessee should be treated as business income for assessment years 1989-90 and 1990-91. The ITAT referenced legal precedents and principles on defining "business" and treatment of interest income from surplus funds. It concluded that the interest income was part of business income due to the purposeful use of surplus funds for business expansion. As a result, the Department's appeals were dismissed for both years. Case-Laws Income Tax Thu, 16 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65222