https://www.taxtmi.com/caselaws?id=20995 The High Court held that the assessee did not set up its business in the relevant previous year as it was not ready to commence operations. Consequently, the interest income was classified as income from other sources, not business income. The court ruled in favor of the Revenue on both issues, overturning the Tribunal's findings. No costs were awarded. en-us Wed, 03 Feb 1993 00:00:00 +0530 Wed, 18 Nov 2009 14:16:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20995 The High Court held that the assessee did not set up its business in the relevant previous year as it was not ready to commence operations. Consequently, the interest income was classified as income from other sources, not business income. The court ruled in favor of the Revenue on both issues, overturning the Tribunal's findings. No costs were awarded. Case-Laws Income Tax Wed, 03 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20995