https://www.taxtmi.com/caselaws?id=332490 The High Court set aside the Tribunal's order and directed a rehearing of the appeal to determine the treatment of interest income as business income. The Tribunal was instructed to assess the nature of the interest income in relation to the assessee's business activities and apply the rule of consistency. The Tribunal emphasized the need for a detailed investigation into the sources of the interest income and directed the Assessing Officer to make a fresh decision on the classification of the interest income and business loss in accordance with legal principles. The appeal was allowed for statistical purposes to ensure compliance with the rule of consistency. en-us Tue, 09 Aug 2016 00:00:00 +0530 Mon, 19 Sep 2016 11:16:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332490 The High Court set aside the Tribunal's order and directed a rehearing of the appeal to determine the treatment of interest income as business income. The Tribunal was instructed to assess the nature of the interest income in relation to the assessee's business activities and apply the rule of consistency. The Tribunal emphasized the need for a detailed investigation into the sources of the interest income and directed the Assessing Officer to make a fresh decision on the classification of the interest income and business loss in accordance with legal principles. The appeal was allowed for statistical purposes to ensure compliance with the rule of consistency. Case-Laws Income Tax Tue, 09 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332490