https://www.taxtmi.com/caselaws?id=218687 The Tribunal upheld the Assessing Officer's decision to assess interest income as income from other sources for the assessment years 2002-03 and 2003-04, as the company had not commenced business operations. The Tribunal also upheld the disallowance of various expenses and depreciation claimed by the assessee, as the business had not actually commenced and was still in the process of setting up. The Tribunal's decision was based on consistency with earlier rulings and lack of new evidence to support a different outcome. en-us Thu, 19 Jan 2012 00:00:00 +0530 Fri, 23 Nov 2012 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218687 The Tribunal upheld the Assessing Officer's decision to assess interest income as income from other sources for the assessment years 2002-03 and 2003-04, as the company had not commenced business operations. The Tribunal also upheld the disallowance of various expenses and depreciation claimed by the assessee, as the business had not actually commenced and was still in the process of setting up. The Tribunal's decision was based on consistency with earlier rulings and lack of new evidence to support a different outcome. Case-Laws Income Tax Thu, 19 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218687