https://www.taxtmi.com/caselaws?id=16318 The court ruled in favor of the assessee regarding the assessment of discount on treasury bills as income from business, not 'interest on securities,' and the apportionment of expenses under section 40A(5) of the Income-tax Act, 1961. However, the court sided with the Revenue in considering expenses on repairs and maintenance of flats as perquisites for computing disallowance under the same section. Additionally, the court held that interest on sticky advances must be treated as income of the assessee and is taxable. en-us Thu, 18 Feb 1999 00:00:00 +0530 Mon, 07 Sep 2009 10:13:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16318 The court ruled in favor of the assessee regarding the assessment of discount on treasury bills as income from business, not 'interest on securities,' and the apportionment of expenses under section 40A(5) of the Income-tax Act, 1961. However, the court sided with the Revenue in considering expenses on repairs and maintenance of flats as perquisites for computing disallowance under the same section. Additionally, the court held that interest on sticky advances must be treated as income of the assessee and is taxable. Case-Laws Income Tax Thu, 18 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16318