https://www.taxtmi.com/caselaws?id=206639 The High Court dismissed tax case appeals for the assessment years 1997-1998, 1998-1999, and 1999-2000. It upheld the Tribunal's decisions classifying interest income from fixed deposits and advances as "income from other sources" rather than business income. The Court agreed that the income lacked a direct link to the assessee's primary business activities, emphasizing the importance of income nature and purpose in tax classification under the Income Tax Act, 1961. en-us Wed, 27 Jul 2011 00:00:00 +0530 Wed, 17 Jun 2026 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206639 The High Court dismissed tax case appeals for the assessment years 1997-1998, 1998-1999, and 1999-2000. It upheld the Tribunal's decisions classifying interest income from fixed deposits and advances as "income from other sources" rather than business income. The Court agreed that the income lacked a direct link to the assessee's primary business activities, emphasizing the importance of income nature and purpose in tax classification under the Income Tax Act, 1961. Case-Laws Income Tax Wed, 27 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206639