https://www.taxtmi.com/caselaws?id=185497 The Tribunal partly allowed the assessee's appeal, disallowing the claimed business loss due to lack of business activity, but allowing interest income from FDRs as business income since the business was suspended, not closed. The disallowance of setting off business loss became irrelevant, and expenses disallowed by the AO were to be re-examined due to the business being under suspension. The levy of interest under section 234B was to be recalculated by the AO during implementation. en-us Fri, 18 May 2012 00:00:00 +0530 Tue, 16 Aug 2016 15:12:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185497 The Tribunal partly allowed the assessee's appeal, disallowing the claimed business loss due to lack of business activity, but allowing interest income from FDRs as business income since the business was suspended, not closed. The disallowance of setting off business loss became irrelevant, and expenses disallowed by the AO were to be re-examined due to the business being under suspension. The levy of interest under section 234B was to be recalculated by the AO during implementation. Case-Laws Income Tax Fri, 18 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185497