https://www.taxtmi.com/caselaws?id=186355 The Tribunal upheld the decision of the ld. CIT(A) to treat interest income on bank deposits as "business income" for set off of brought forward business loss. The Revenue's appeal was dismissed as it failed to provide new evidence challenging the findings. The Tribunal referenced a previous decision in the assessee's favor for a prior assessment year, noting similar circumstances. Consequently, the Tribunal declined to interfere with the ld. CIT(A)'s decision, affirming the treatment of interest income and allowing the set off of business loss against it. en-us Tue, 22 May 2012 00:00:00 +0530 Sat, 17 Jun 2017 19:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186355 The Tribunal upheld the decision of the ld. CIT(A) to treat interest income on bank deposits as "business income" for set off of brought forward business loss. The Revenue's appeal was dismissed as it failed to provide new evidence challenging the findings. The Tribunal referenced a previous decision in the assessee's favor for a prior assessment year, noting similar circumstances. Consequently, the Tribunal declined to interfere with the ld. CIT(A)'s decision, affirming the treatment of interest income and allowing the set off of business loss against it. Case-Laws Income Tax Tue, 22 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186355