https://www.taxtmi.com/caselaws?id=413055 The Tribunal ruled in favor of the assessee, directing the Assessing Officer to assess the interest income as "Profits and Gains of Business or Profession." The disallowed employee benefit expenses of Rs. 10,71,000 were allowed as they were found to be incurred for business purposes. Additionally, the legal and professional fees of Rs. 5,84,745 were allowed as business expenses. The appeal was allowed in favor of the assessee, with the general grounds of appeal being dismissed as not pressed. en-us Wed, 29 Sep 2021 00:00:00 +0530 Mon, 04 Oct 2021 08:58:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413055 The Tribunal ruled in favor of the assessee, directing the Assessing Officer to assess the interest income as "Profits and Gains of Business or Profession." The disallowed employee benefit expenses of Rs. 10,71,000 were allowed as they were found to be incurred for business purposes. Additionally, the legal and professional fees of Rs. 5,84,745 were allowed as business expenses. The appeal was allowed in favor of the assessee, with the general grounds of appeal being dismissed as not pressed. Case-Laws Income Tax Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413055