https://www.taxtmi.com/caselaws?id=205750 The Tribunal held that income derived from Fixed Deposits for obtaining a bank guarantee constitutes business income, not income from other sources. The interest earned on these deposits is considered part of the business income as it is essential for business operations. The Court upheld this decision, citing a previous judgment involving the same assessee, which established that such investments should be treated as business income. The appeal by the revenue was dismissed, affirming the classification of the income as business income. en-us Tue, 18 Jan 2011 00:00:00 +0530 Sat, 15 Oct 2016 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205750 The Tribunal held that income derived from Fixed Deposits for obtaining a bank guarantee constitutes business income, not income from other sources. The interest earned on these deposits is considered part of the business income as it is essential for business operations. The Court upheld this decision, citing a previous judgment involving the same assessee, which established that such investments should be treated as business income. The appeal by the revenue was dismissed, affirming the classification of the income as business income. Case-Laws Income Tax Tue, 18 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205750