https://www.taxtmi.com/caselaws?id=369260 The High Court determined that interest income from Fixed Deposit Receipts (FDRs) and National Savings Certificates (NSCs) used as performance guarantees for securing contracts should be treated as business income, overturning the Income Tax Appellate Tribunal's decision. The court set aside the Tribunal's judgment, restoring the Commissioner of Income Tax (Appeals)'s decision and remitting the case for a fresh assessment by the Assessing Officer in accordance with the ruling. en-us Fri, 31 Aug 2018 00:00:00 +0530 Tue, 23 Oct 2018 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369260 The High Court determined that interest income from Fixed Deposit Receipts (FDRs) and National Savings Certificates (NSCs) used as performance guarantees for securing contracts should be treated as business income, overturning the Income Tax Appellate Tribunal's decision. The court set aside the Tribunal's judgment, restoring the Commissioner of Income Tax (Appeals)'s decision and remitting the case for a fresh assessment by the Assessing Officer in accordance with the ruling. Case-Laws Income Tax Fri, 31 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369260