https://www.taxtmi.com/caselaws?id=348067 The High Court ruled in favor of the Revenue, setting aside the Tribunal's judgment and allowing the appeals by the Principal Commissioner of Income Tax. The decision clarified the tax treatment of interest income earned on unutilized funds borrowed for business purposes, emphasizing the importance of statutory provisions and legal precedents in determining the appropriate tax liability in such cases. en-us Thu, 31 Aug 2017 00:00:00 +0530 Thu, 14 Sep 2017 11:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348067 The High Court ruled in favor of the Revenue, setting aside the Tribunal's judgment and allowing the appeals by the Principal Commissioner of Income Tax. The decision clarified the tax treatment of interest income earned on unutilized funds borrowed for business purposes, emphasizing the importance of statutory provisions and legal precedents in determining the appropriate tax liability in such cases. Case-Laws Income Tax Thu, 31 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348067