https://www.taxtmi.com/caselaws?id=358448 The Tribunal upheld the Commissioner's decision to treat interest income as business income, dismissing the Revenue's appeal. The exemption of dividend income for minors under section 10(34) was justified due to the payment of dividend distribution tax, leading to the dismissal of the Revenue's challenge. As the interest income was treated as business income, the deduction under section 35AC was deemed irrelevant and dismissed. The Tribunal remitted the issue of disallowance of unrealized rent back to the Assessing Officer for reconsideration, allowing the assessee's cross objection for statistical purposes. en-us Thu, 05 Apr 2018 00:00:00 +0530 Thu, 12 Apr 2018 07:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358448 The Tribunal upheld the Commissioner's decision to treat interest income as business income, dismissing the Revenue's appeal. The exemption of dividend income for minors under section 10(34) was justified due to the payment of dividend distribution tax, leading to the dismissal of the Revenue's challenge. As the interest income was treated as business income, the deduction under section 35AC was deemed irrelevant and dismissed. The Tribunal remitted the issue of disallowance of unrealized rent back to the Assessing Officer for reconsideration, allowing the assessee's cross objection for statistical purposes. Case-Laws Income Tax Thu, 05 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358448