https://www.taxtmi.com/caselaws?id=67564 The Tribunal partly allowed the appeal by upholding the assessment of interest earned from bank deposits as income from other sources and disallowing the deduction of interest paid on borrowings for factory construction. However, it allowed the expenditure on mineral extraction as business expenditure and directed the recalculation of interest under section 217 of the Income-tax Act. en-us Thu, 20 Mar 1986 00:00:00 +0530 Fri, 11 Mar 2011 13:00:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67564 The Tribunal partly allowed the appeal by upholding the assessment of interest earned from bank deposits as income from other sources and disallowing the deduction of interest paid on borrowings for factory construction. However, it allowed the expenditure on mineral extraction as business expenditure and directed the recalculation of interest under section 217 of the Income-tax Act. Case-Laws Income Tax Thu, 20 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67564