https://www.taxtmi.com/caselaws?id=295481 The Appellate Tribunal upheld the classification of interest income as "Income from Other Sources," rejecting the assessee's claim that it should be considered as "Income from Business." The Tribunal found that the interest income did not have a direct connection to the assessee's business activities, despite the assessee's arguments based on Ministry of Tourism directions and judicial precedents. The issues concerning the deduction for write-off of stores and spares and depreciation claim on stores and spares were not extensively addressed in the judgment, with the focus primarily on the interest income classification dispute. en-us Fri, 30 Dec 2011 00:00:00 +0530 Sat, 05 Jun 2021 15:17:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295481 The Appellate Tribunal upheld the classification of interest income as "Income from Other Sources," rejecting the assessee's claim that it should be considered as "Income from Business." The Tribunal found that the interest income did not have a direct connection to the assessee's business activities, despite the assessee's arguments based on Ministry of Tourism directions and judicial precedents. The issues concerning the deduction for write-off of stores and spares and depreciation claim on stores and spares were not extensively addressed in the judgment, with the focus primarily on the interest income classification dispute. Case-Laws Income Tax Fri, 30 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295481