https://www.taxtmi.com/caselaws?id=244844 The High Court held that interest income invested through a Portfolio Management Scheme is taxable as 'income from other sources' and should not be adjusted against project expenses. The Court emphasized that the source of funds is irrelevant, focusing instead on the utilization of funds. It differentiated the case from precedent, stating that income generated from capital utilization is taxable regardless of the source. The Court ruled in favor of the revenue, overturning the Tribunal's decision and clarifying taxability principles related to investment income. en-us Wed, 05 Mar 2014 00:00:00 +0530 Thu, 05 Jun 2014 10:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244844 The High Court held that interest income invested through a Portfolio Management Scheme is taxable as 'income from other sources' and should not be adjusted against project expenses. The Court emphasized that the source of funds is irrelevant, focusing instead on the utilization of funds. It differentiated the case from precedent, stating that income generated from capital utilization is taxable regardless of the source. The Court ruled in favor of the revenue, overturning the Tribunal's decision and clarifying taxability principles related to investment income. Case-Laws Income Tax Wed, 05 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244844