https://www.taxtmi.com/caselaws?id=343480 The Appellate Tribunal upheld the classification of interest income from a bank as income from other sources instead of income from business, disallowing expenses like salary, conveyance, and depreciation claimed. Disallowances under various sections of the Act were affirmed due to lack of evidence challenging the factual findings. The Tribunal dismissed appeals against disallowances of interest expenditure, depreciation, and under section 14A of the Act, as well as upheld the disallowance under section 41. The computation under MAT provisions vis-a-vis disallowance under section 14A was confirmed, leading to the dismissal of appeals for both assessment years. en-us Wed, 24 May 2017 00:00:00 +0530 Fri, 26 May 2017 13:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343480 The Appellate Tribunal upheld the classification of interest income from a bank as income from other sources instead of income from business, disallowing expenses like salary, conveyance, and depreciation claimed. Disallowances under various sections of the Act were affirmed due to lack of evidence challenging the factual findings. The Tribunal dismissed appeals against disallowances of interest expenditure, depreciation, and under section 14A of the Act, as well as upheld the disallowance under section 41. The computation under MAT provisions vis-a-vis disallowance under section 14A was confirmed, leading to the dismissal of appeals for both assessment years. Case-Laws Income Tax Wed, 24 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343480