https://www.taxtmi.com/caselaws?id=218259 The Tribunal partially allowed the appeal by the partnership firm, permitting certain expenses as business expenditure against business income. It upheld the disallowance of bad debts pending further examination of compliance with sec. 36(2). The interest on REC bonds was categorized as income from other sources, while sundry creditors written back were considered business income. The decision clarifies the distinction between business income and income from other sources, providing detailed rationale for each determination. en-us Fri, 08 Jun 2012 00:00:00 +0530 Thu, 08 Nov 2012 08:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218259 The Tribunal partially allowed the appeal by the partnership firm, permitting certain expenses as business expenditure against business income. It upheld the disallowance of bad debts pending further examination of compliance with sec. 36(2). The interest on REC bonds was categorized as income from other sources, while sundry creditors written back were considered business income. The decision clarifies the distinction between business income and income from other sources, providing detailed rationale for each determination. Case-Laws Income Tax Fri, 08 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218259