https://www.taxtmi.com/caselaws?id=22894 Interest earned on fixed deposits made from surplus funds before commencement of the manufacturing business was held not to be business income. Because the deposits were made only as an interim placement of funds not immediately required for business, and the deposit activity was not the assessee's main business, the receipt was treated as incidental rather than as profits arising from business operations. The reference was answered in favour of the Revenue's view. en-us Tue, 07 Aug 1990 00:00:00 +0530 Tue, 15 Dec 2009 12:07:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22894 Interest earned on fixed deposits made from surplus funds before commencement of the manufacturing business was held not to be business income. Because the deposits were made only as an interim placement of funds not immediately required for business, and the deposit activity was not the assessee's main business, the receipt was treated as incidental rather than as profits arising from business operations. The reference was answered in favour of the Revenue's view. Case-Laws Income Tax Tue, 07 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22894