https://www.taxtmi.com/caselaws?id=259608 The court determined that interest income earned on Fixed Deposit Receipts (FDRs) by the assessee company should be treated as business income rather than income from other sources. The court upheld the decisions of lower authorities, emphasizing the direct link of the interest income to the business activities of the assessee. Additionally, the court supported the disallowance of a specific business expenditure as revenue expenditure, in line with the CIT(A)'s decision, based on established legal precedents. The court dismissed the appeal, finding no substantial question of law requiring further consideration. en-us Mon, 27 Apr 2015 00:00:00 +0530 Fri, 15 May 2015 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259608 The court determined that interest income earned on Fixed Deposit Receipts (FDRs) by the assessee company should be treated as business income rather than income from other sources. The court upheld the decisions of lower authorities, emphasizing the direct link of the interest income to the business activities of the assessee. Additionally, the court supported the disallowance of a specific business expenditure as revenue expenditure, in line with the CIT(A)'s decision, based on established legal precedents. The court dismissed the appeal, finding no substantial question of law requiring further consideration. Case-Laws Income Tax Mon, 27 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259608