https://www.taxtmi.com/caselaws?id=259431 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal. The interest income was classified as Business Income, following precedents linking it to business activities. Depreciation on toll roads was denied due to ownership by the Government but allowed as an intangible asset. Expenses for increasing authorized share capital were deductible under section 35D. The levy of interest under section 234B was directed to be adjusted accordingly. en-us Wed, 15 Apr 2015 00:00:00 +0530 Mon, 11 May 2015 07:50:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259431 The Tribunal dismissed the Revenue's appeal and allowed the assessee's appeal. The interest income was classified as Business Income, following precedents linking it to business activities. Depreciation on toll roads was denied due to ownership by the Government but allowed as an intangible asset. Expenses for increasing authorized share capital were deductible under section 35D. The levy of interest under section 234B was directed to be adjusted accordingly. Case-Laws Income Tax Wed, 15 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259431