https://www.taxtmi.com/caselaws?id=215473 The Court held that interest on income tax refund is subject to tax under the head "income from other sources." The assessing officer's decision to include the interest amount in the income computation was upheld, and the Revenue's appeal was allowed. The Court emphasized that the basic characteristic of income necessitates its taxation, regardless of how it was earned. Therefore, the interest received on income tax refund is exigible to tax, contrary to the assessee's contention. en-us Fri, 27 Jul 2012 00:00:00 +0530 Tue, 07 Aug 2012 08:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215473 The Court held that interest on income tax refund is subject to tax under the head "income from other sources." The assessing officer's decision to include the interest amount in the income computation was upheld, and the Revenue's appeal was allowed. The Court emphasized that the basic characteristic of income necessitates its taxation, regardless of how it was earned. Therefore, the interest received on income tax refund is exigible to tax, contrary to the assessee's contention. Case-Laws Income Tax Fri, 27 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215473