https://www.taxtmi.com/caselaws?id=18693 Money-lending receipts were treated as business income because the lending activity was characterised as a business and the relevant monies were regarded as stock-in-trade. On that footing, the amount forgone by the assessee was accepted as a deductible business loss. The Tribunal's approach was supported by an earlier ruling involving the assessee's son, and the issue was answered in favour of the assessee against the Department. en-us Thu, 29 Jun 1995 00:00:00 +0530 Sat, 31 Oct 2009 13:37:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18693 Money-lending receipts were treated as business income because the lending activity was characterised as a business and the relevant monies were regarded as stock-in-trade. On that footing, the amount forgone by the assessee was accepted as a deductible business loss. The Tribunal's approach was supported by an earlier ruling involving the assessee's son, and the issue was answered in favour of the assessee against the Department. Case-Laws Income Tax Thu, 29 Jun 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18693