https://www.taxtmi.com/caselaws?id=396460 The ITAT Kolkata allowed the appeal for statistical purposes and remanded the case back to the AO for re-examination. The AO was instructed to consider the nature of the receipt in light of the case laws cited and additional evidence provided by the assessee. The ITAT emphasized the importance of establishing a direct nexus between the interest income from Fixed Deposits and the business activities to determine whether it should be treated as business income or income from 'Other Sources'. en-us Fri, 03 Jul 2020 00:00:00 +0530 Mon, 06 Jul 2020 12:45:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396460 The ITAT Kolkata allowed the appeal for statistical purposes and remanded the case back to the AO for re-examination. The AO was instructed to consider the nature of the receipt in light of the case laws cited and additional evidence provided by the assessee. The ITAT emphasized the importance of establishing a direct nexus between the interest income from Fixed Deposits and the business activities to determine whether it should be treated as business income or income from 'Other Sources'. Case-Laws Income Tax Fri, 03 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396460