https://www.taxtmi.com/caselaws?id=119107 The Tribunal allowed the appeal filed by the assessee, concluding that the interest income of Rs. 1,89,025 should be treated as income from business, not from other sources. The Tribunal considered the assessee's real estate business to have commenced upon incorporation, with funds advanced for property dealings indicating business commencement. The decision granted the assessee necessary benefits and deductions, in contrast to the Assessing Officer's classification of the interest income as from other sources due to the lack of business activity. en-us Tue, 08 Feb 2005 00:00:00 +0530 Mon, 09 Jul 2012 10:49:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119107 The Tribunal allowed the appeal filed by the assessee, concluding that the interest income of Rs. 1,89,025 should be treated as income from business, not from other sources. The Tribunal considered the assessee's real estate business to have commenced upon incorporation, with funds advanced for property dealings indicating business commencement. The decision granted the assessee necessary benefits and deductions, in contrast to the Assessing Officer's classification of the interest income as from other sources due to the lack of business activity. Case-Laws Income Tax Tue, 08 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119107