https://www.taxtmi.com/caselaws?id=330498 The Appellate Tribunal ITAT Mumbai partially allowed both appeals in the case. It ruled in favor of the appellant regarding the taxability of interest earned on compulsory FDR, emphasizing the nexus between income and business activities. The Tribunal also allowed business expenditure incurred after setting up the business, following a Delhi High Court decision. The judgment highlighted the importance of considering the relationship between income and business operations in determining tax liability and deductible expenses. en-us Wed, 15 Jun 2016 00:00:00 +0530 Wed, 27 Jul 2016 12:34:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330498 The Appellate Tribunal ITAT Mumbai partially allowed both appeals in the case. It ruled in favor of the appellant regarding the taxability of interest earned on compulsory FDR, emphasizing the nexus between income and business activities. The Tribunal also allowed business expenditure incurred after setting up the business, following a Delhi High Court decision. The judgment highlighted the importance of considering the relationship between income and business operations in determining tax liability and deductible expenses. Case-Laws Income Tax Wed, 15 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330498