https://www.taxtmi.com/caselaws?id=372381 The Court ruled in favor of the assessee, determining that the interest income earned from fixed deposits for opening letter of credits and retention of margin money should be classified as profits and gains of business, rather than income from other sources. As a result, the assessee was not allowed to set off un-absorbed depreciation against income from other sources. The appeal was dismissed with no order as to costs. en-us Fri, 14 Dec 2018 00:00:00 +0530 Fri, 21 Dec 2018 07:09:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372381 The Court ruled in favor of the assessee, determining that the interest income earned from fixed deposits for opening letter of credits and retention of margin money should be classified as profits and gains of business, rather than income from other sources. As a result, the assessee was not allowed to set off un-absorbed depreciation against income from other sources. The appeal was dismissed with no order as to costs. Case-Laws Income Tax Fri, 14 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372381