https://www.taxtmi.com/caselaws?id=18027 The court ruled against the assessee, determining that interest and dividend income should not be considered as part of business income for the purpose of claiming deduction under section 32AB of the Income-tax Act, 1961. The court emphasized that such income must be derived from the profits and gains of the business or profession to be eligible for deduction. Consequently, the court sided with the Revenue, leading to the judgment being transmitted to the Income-tax Appellate Tribunal for further proceedings. en-us Fri, 06 Sep 1996 00:00:00 +0530 Sat, 26 Sep 2009 12:49:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18027 The court ruled against the assessee, determining that interest and dividend income should not be considered as part of business income for the purpose of claiming deduction under section 32AB of the Income-tax Act, 1961. The court emphasized that such income must be derived from the profits and gains of the business or profession to be eligible for deduction. Consequently, the court sided with the Revenue, leading to the judgment being transmitted to the Income-tax Appellate Tribunal for further proceedings. Case-Laws Income Tax Fri, 06 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18027