https://www.taxtmi.com/caselaws?id=213056 Interest awarded for delayed contractual payments and received with the arbitral award was treated as an accretion to the underlying business receipts, so it was taxable as business income and not as income from other sources. Reopening of assessment was upheld because the assessee did not seriously dispute the action under sections 147 and 148, and the reassessment challenge failed. On that basis, the objection to the non-application of the stated provisions was accepted, and the related grievance was not sustained. en-us Wed, 18 Jan 2012 00:00:00 +0530 Mon, 07 May 2012 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213056 Interest awarded for delayed contractual payments and received with the arbitral award was treated as an accretion to the underlying business receipts, so it was taxable as business income and not as income from other sources. Reopening of assessment was upheld because the assessee did not seriously dispute the action under sections 147 and 148, and the reassessment challenge failed. On that basis, the objection to the non-application of the stated provisions was accepted, and the related grievance was not sustained. Case-Laws Income Tax Wed, 18 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213056