https://www.taxtmi.com/caselaws?id=335860 The High Court upheld the orders of the Income Tax Appellate Tribunal concerning the legality of the orders passed, the treatment of income from various sources, and the classification of income as business income or long-term capital gain. The Tribunal's decision to disallow deduction under section 80P(2)(a)(i) of the Income Tax Act for income earned from banks other than cooperative banks was affirmed. The Court remitted the issue of taxability of interest on deposits with scheduled banks back to the Tribunal for further examination. The appellant's appeal on claiming a deduction under Section 57 was allowed, while other appeals were dismissed. en-us Wed, 07 Dec 2016 00:00:00 +0530 Sun, 11 Dec 2016 23:50:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335860 The High Court upheld the orders of the Income Tax Appellate Tribunal concerning the legality of the orders passed, the treatment of income from various sources, and the classification of income as business income or long-term capital gain. The Tribunal's decision to disallow deduction under section 80P(2)(a)(i) of the Income Tax Act for income earned from banks other than cooperative banks was affirmed. The Court remitted the issue of taxability of interest on deposits with scheduled banks back to the Tribunal for further examination. The appellant's appeal on claiming a deduction under Section 57 was allowed, while other appeals were dismissed. Case-Laws Income Tax Wed, 07 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335860