https://www.taxtmi.com/caselaws?id=254909 The Court ruled in favor of the appellant, holding that the interest earned from a mandatory precondition deposit towards the supply of raw material should be classified as part of the business income rather than income from other sources. The Court emphasized the direct connection between the interest income and the appellant's business activities, citing previous legal precedents. The decision overturned the Income Tax Appellate Tribunal's order and supported the appellant's position that such interest income should be considered as derived from business activities. en-us Mon, 01 Dec 2014 00:00:00 +0530 Sat, 03 Jan 2015 06:52:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254909 The Court ruled in favor of the appellant, holding that the interest earned from a mandatory precondition deposit towards the supply of raw material should be classified as part of the business income rather than income from other sources. The Court emphasized the direct connection between the interest income and the appellant's business activities, citing previous legal precedents. The decision overturned the Income Tax Appellate Tribunal's order and supported the appellant's position that such interest income should be considered as derived from business activities. Case-Laws Income Tax Mon, 01 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254909