https://www.taxtmi.com/caselaws?id=15298 The High Court held that dividend income from subsidiary companies should be classified as "Income from other sources" rather than "Business income." Interest income from compensation was to be spread over relevant years. The Court disallowed the set-off of business losses against income post-acquisition of the electricity undertaking. Additionally, interest receipt was not classified as business income. The outcomes favored the Revenue in all questions, except for the assessment of interest income, which was decided in favor of the assessee. No costs were awarded due to divided success. en-us Mon, 13 Dec 1999 00:00:00 +0530 Tue, 04 Aug 2009 15:57:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15298 The High Court held that dividend income from subsidiary companies should be classified as "Income from other sources" rather than "Business income." Interest income from compensation was to be spread over relevant years. The Court disallowed the set-off of business losses against income post-acquisition of the electricity undertaking. Additionally, interest receipt was not classified as business income. The outcomes favored the Revenue in all questions, except for the assessment of interest income, which was decided in favor of the assessee. No costs were awarded due to divided success. Case-Laws Income Tax Mon, 13 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15298