https://www.taxtmi.com/caselaws?id=7398 The court affirmed that the interest income and share transfers should be assessed under other sources, rejecting the company's claim of it being income from business. Additionally, the deduction of expenses amounting to Rs. 34,139 was denied as the expenses were not incurred for earning the interest income. The court ruled against the assessee on both issues, directing each party to bear its own costs and forwarding a copy of the judgment to the Income-tax Appellate Tribunal as mandated by the Act. en-us Thu, 17 Oct 1968 00:00:00 +0530 Thu, 19 Feb 2009 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7398 The court affirmed that the interest income and share transfers should be assessed under other sources, rejecting the company's claim of it being income from business. Additionally, the deduction of expenses amounting to Rs. 34,139 was denied as the expenses were not incurred for earning the interest income. The court ruled against the assessee on both issues, directing each party to bear its own costs and forwarding a copy of the judgment to the Income-tax Appellate Tribunal as mandated by the Act. Case-Laws Income Tax Thu, 17 Oct 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7398