https://www.taxtmi.com/caselaws?id=12039 The High Court held that interest income earned by a company from fixed deposits should be treated as income from other sources, not business income. The court reasoned that the interest was not directly linked to the company's business operations but resulted from surplus funds deposited for additional income. This decision clarified the classification of interest income for companies engaged in business activities, emphasizing the distinction between business income and income from other sources based on the purpose and source of funds. The ruling favored the Revenue, denying the assessee's claim. en-us Mon, 28 Oct 2002 00:00:00 +0530 Tue, 16 Feb 2010 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12039 The High Court held that interest income earned by a company from fixed deposits should be treated as income from other sources, not business income. The court reasoned that the interest was not directly linked to the company's business operations but resulted from surplus funds deposited for additional income. This decision clarified the classification of interest income for companies engaged in business activities, emphasizing the distinction between business income and income from other sources based on the purpose and source of funds. The ruling favored the Revenue, denying the assessee's claim. Case-Laws Income Tax Mon, 28 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12039