https://www.taxtmi.com/caselaws?id=262511 The court upheld the decision of the Income-tax Appellate Tribunal and Commissioner of Income-tax (Appeals), dismissing the appeal. The income from bank interest, interest on FDR, computer service charges, insurance premium, profit on sale of assets, and occupancy charges was deemed eligible business income under Section 32AB of the Income-tax Act, 1961. The court concluded that the income was earned during the course of business activities, and the Assessing Officer was not authorized to exclude such income. The disallowance made by the Assessing Officer was rightfully deleted by the Appellate Tribunal. en-us Wed, 01 Jul 2015 00:00:00 +0530 Wed, 12 Aug 2015 09:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262511 The court upheld the decision of the Income-tax Appellate Tribunal and Commissioner of Income-tax (Appeals), dismissing the appeal. The income from bank interest, interest on FDR, computer service charges, insurance premium, profit on sale of assets, and occupancy charges was deemed eligible business income under Section 32AB of the Income-tax Act, 1961. The court concluded that the income was earned during the course of business activities, and the Assessing Officer was not authorized to exclude such income. The disallowance made by the Assessing Officer was rightfully deleted by the Appellate Tribunal. Case-Laws Income Tax Wed, 01 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262511