https://www.taxtmi.com/caselaws?id=19535 The High Court of Madras decided that the interest income of the assessee should be assessed under the head 'Business' rather than 'Other sources'. The Court found that the consistent money-lending activities, interest earnings, and family background in money-lending demonstrated a clear business purpose. Despite the Revenue's arguments, the Court ruled in favor of the assessee, concluding that the interest income derived from these transactions should be categorized as business income due to the evidence of a money-lending business conducted by the assessee. en-us Tue, 19 Apr 1994 00:00:00 +0530 Fri, 06 Nov 2009 17:38:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19535 The High Court of Madras decided that the interest income of the assessee should be assessed under the head 'Business' rather than 'Other sources'. The Court found that the consistent money-lending activities, interest earnings, and family background in money-lending demonstrated a clear business purpose. Despite the Revenue's arguments, the Court ruled in favor of the assessee, concluding that the interest income derived from these transactions should be categorized as business income due to the evidence of a money-lending business conducted by the assessee. Case-Laws Income Tax Tue, 19 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19535