https://www.taxtmi.com/caselaws?id=248237 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision, classifying interest income as business income rather than income from other sources. The Tribunal allowed the deduction of related expenses, emphasizing the company's objective of lending money and past consistent treatment of interest income as business income. Additionally, the Tribunal supported the deduction of expenses from interest income, aligning with the CIT(A)'s decision and maintaining consistency in assessing interest income and expenses deduction. The Revenue's appeal was dismissed, affirming the classification of interest income as business income and the allowance of related expenses. en-us Fri, 16 May 2014 00:00:00 +0530 Fri, 06 Jun 2014 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248237 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision, classifying interest income as business income rather than income from other sources. The Tribunal allowed the deduction of related expenses, emphasizing the company's objective of lending money and past consistent treatment of interest income as business income. Additionally, the Tribunal supported the deduction of expenses from interest income, aligning with the CIT(A)'s decision and maintaining consistency in assessing interest income and expenses deduction. The Revenue's appeal was dismissed, affirming the classification of interest income as business income and the allowance of related expenses. Case-Laws Income Tax Fri, 16 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248237