https://www.taxtmi.com/caselaws?id=354875 The Tribunal upheld the Commissioner's decision to categorize interest income from money lending as profits and gains from business or profession, dismissing the Revenue's appeal. The Tribunal found the company's activities, including its object clause, board resolutions, and systematic lending transactions, supported treating the income as business profits. Based on legal precedents and a detailed analysis, the Tribunal concluded that the interest income should be classified as profits and gains from business or profession, in line with previous decisions on similar matters. en-us Wed, 31 Jan 2018 00:00:00 +0530 Tue, 06 Feb 2018 07:57:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354875 The Tribunal upheld the Commissioner's decision to categorize interest income from money lending as profits and gains from business or profession, dismissing the Revenue's appeal. The Tribunal found the company's activities, including its object clause, board resolutions, and systematic lending transactions, supported treating the income as business profits. Based on legal precedents and a detailed analysis, the Tribunal concluded that the interest income should be classified as profits and gains from business or profession, in line with previous decisions on similar matters. Case-Laws Income Tax Wed, 31 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354875