https://www.taxtmi.com/caselaws?id=9467 HC dismissed the Revenue's appeal and upheld that interest earned on fixed-deposit investments of amounts received from co-developers was business income. The court found no dispute that receipts were connected to the company's real-estate business and that prior assessments treated similar interest as business income, accepted by the Revenue. The Revenue could not recharacterize those funds as surplus awaiting business commencement. The SC decision in Tuticorin must be applied case-by-case and did not alter the legal basis for treating the interest as business income here; appeal failed. en-us Tue, 17 Jan 2006 00:00:00 +0530 Fri, 19 Sep 2025 17:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9467 HC dismissed the Revenue's appeal and upheld that interest earned on fixed-deposit investments of amounts received from co-developers was business income. The court found no dispute that receipts were connected to the company's real-estate business and that prior assessments treated similar interest as business income, accepted by the Revenue. The Revenue could not recharacterize those funds as surplus awaiting business commencement. The SC decision in Tuticorin must be applied case-by-case and did not alter the legal basis for treating the interest as business income here; appeal failed. Case-Laws Income Tax Tue, 17 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9467