https://www.taxtmi.com/caselaws?id=3001 The High Court of Karnataka ruled that interest accrued on fixed deposits made to secure a bank guarantee for a contract work should be classified as business income, not income from other sources. The court dismissed the Revenue's appeal, upholding the decision of the lower courts in favor of the assessee. en-us Mon, 12 Nov 2007 00:00:00 +0530 Tue, 20 Sep 2011 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3001 The High Court of Karnataka ruled that interest accrued on fixed deposits made to secure a bank guarantee for a contract work should be classified as business income, not income from other sources. The court dismissed the Revenue's appeal, upholding the decision of the lower courts in favor of the assessee. Case-Laws Income Tax Mon, 12 Nov 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3001