https://www.taxtmi.com/caselaws?id=396903 The High Court upheld the tribunal's decision that interest received from deposits in IDBI should be classified as business income. The court dismissed the Tax Case Appeal by the revenue, as no substantial question of law was found. The Assessing Officer's denial of relief under Section 32AB was overturned, with the court granting relief to the assessee based on the interpretation of the term 'purchase.' The High Court did not award costs, emphasizing the absence of significant legal issues in the appeal. en-us Tue, 14 Jul 2020 00:00:00 +0530 Fri, 24 Jul 2020 09:27:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396903 The High Court upheld the tribunal's decision that interest received from deposits in IDBI should be classified as business income. The court dismissed the Tax Case Appeal by the revenue, as no substantial question of law was found. The Assessing Officer's denial of relief under Section 32AB was overturned, with the court granting relief to the assessee based on the interpretation of the term 'purchase.' The High Court did not award costs, emphasizing the absence of significant legal issues in the appeal. Case-Laws Income Tax Tue, 14 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396903