https://www.taxtmi.com/caselaws?id=239756 The Tribunal quashed the reassessment proceedings for AY 2005-06, upheld the classification of interest income as income from other sources, and directed the AO to re-examine the allowability of expenses under section 57(iii). For subsequent assessment years, the Tribunal remanded the matter to the AO to determine if the business was set up and commenced, considering the specific activities undertaken by the assessee in those years. en-us Fri, 15 Mar 2013 00:00:00 +0530 Fri, 18 Mar 2016 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239756 The Tribunal quashed the reassessment proceedings for AY 2005-06, upheld the classification of interest income as income from other sources, and directed the AO to re-examine the allowability of expenses under section 57(iii). For subsequent assessment years, the Tribunal remanded the matter to the AO to determine if the business was set up and commenced, considering the specific activities undertaken by the assessee in those years. Case-Laws Income Tax Fri, 15 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239756