https://www.taxtmi.com/caselaws?id=208043 The Tribunal upheld the classification of interest income as 'income from other sources' instead of 'income from business,' based on prior decisions. The addition on account of custom duty drawback was disallowed due to lack of evidence of acceptance by the government department. Withdrawal of interest under Section 244A was deemed consequential to tax liability. The issue of interest levy under Sections 234B and 220(2) was remitted for further consideration. Disallowance under Section 43B was deleted in line with previous ITAT orders. The deletion of addition on warranty provision was upheld, and Section 234D was held not applicable before 1.6.2003. Appeals were partly allowed for both parties. en-us Fri, 29 Oct 2010 00:00:00 +0530 Fri, 14 Aug 2015 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208043 The Tribunal upheld the classification of interest income as 'income from other sources' instead of 'income from business,' based on prior decisions. The addition on account of custom duty drawback was disallowed due to lack of evidence of acceptance by the government department. Withdrawal of interest under Section 244A was deemed consequential to tax liability. The issue of interest levy under Sections 234B and 220(2) was remitted for further consideration. Disallowance under Section 43B was deleted in line with previous ITAT orders. The deletion of addition on warranty provision was upheld, and Section 234D was held not applicable before 1.6.2003. Appeals were partly allowed for both parties. Case-Laws Income Tax Fri, 29 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208043