https://www.taxtmi.com/caselaws?id=3488 The High Court upheld the Income-tax Appellate Tribunal's decision in favor of the assessee, a Partnership Firm in the Real Estate business, regarding the treatment of interest earned prior to the commencement of business. The Tribunal ruled that interest earned before business commencement should not be considered income from other sources, citing established legal principles from Supreme Court judgments. The Revenue's appeal was dismissed as it failed to provide sufficient evidence or challenge the Tribunal's decision effectively. The Court found no substantial question of law to consider, resulting in the closure of the case without costs. en-us Thu, 14 Jun 2007 00:00:00 +0530 Mon, 28 Jul 2008 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3488 The High Court upheld the Income-tax Appellate Tribunal's decision in favor of the assessee, a Partnership Firm in the Real Estate business, regarding the treatment of interest earned prior to the commencement of business. The Tribunal ruled that interest earned before business commencement should not be considered income from other sources, citing established legal principles from Supreme Court judgments. The Revenue's appeal was dismissed as it failed to provide sufficient evidence or challenge the Tribunal's decision effectively. The Court found no substantial question of law to consider, resulting in the closure of the case without costs. Case-Laws Income Tax Thu, 14 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3488