https://www.taxtmi.com/caselaws?id=254901 The High Court held that the interest income earned by the assessee company from deposits made for performance guarantees, directly linked to business activities, should not be considered as income from other sources but as income from business. The Court concluded that the issue was debatable and not suitable for prima facie adjustment under section 143(1)(a) of the Income Tax Act, 1961. The Court set aside the previous orders, allowed the appeal, and directed the assessment to be conducted under the regular process as per section 143(3). en-us Fri, 19 Sep 2014 00:00:00 +0530 Sat, 03 Jan 2015 06:51:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254901 The High Court held that the interest income earned by the assessee company from deposits made for performance guarantees, directly linked to business activities, should not be considered as income from other sources but as income from business. The Court concluded that the issue was debatable and not suitable for prima facie adjustment under section 143(1)(a) of the Income Tax Act, 1961. The Court set aside the previous orders, allowed the appeal, and directed the assessment to be conducted under the regular process as per section 143(3). Case-Laws Income Tax Fri, 19 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254901