https://www.taxtmi.com/caselaws?id=353931 The appeal was partly allowed. The Tribunal directed the AO to treat certain interest incomes as business income and allowed the deduction of related expenses. The Tribunal also deleted the disallowance of interest expense allocated to exempt incomes and directed the AO to give effect to the CIT(A)'s order. The loss in the barge division was not allowed to be deducted from the shipping business profit, and the additional ground regarding interest on income tax refund was partly allowed. en-us Thu, 04 Jan 2018 00:00:00 +0530 Mon, 15 Jan 2018 07:43:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353931 The appeal was partly allowed. The Tribunal directed the AO to treat certain interest incomes as business income and allowed the deduction of related expenses. The Tribunal also deleted the disallowance of interest expense allocated to exempt incomes and directed the AO to give effect to the CIT(A)'s order. The loss in the barge division was not allowed to be deducted from the shipping business profit, and the additional ground regarding interest on income tax refund was partly allowed. Case-Laws Income Tax Thu, 04 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353931