https://www.taxtmi.com/caselaws?id=417426 The ITAT ruled that interest income from fixed deposits linked to business activities should be classified as business income, while income from mutual funds and tax refunds falls under income from other sources. The ITAT directed further assessment on the set off of income from other sources against revenue expenses, granting partial relief to the assessee and remanding the issue back to the Assessing Officer for a decision. en-us Wed, 19 Jan 2022 00:00:00 +0530 Sat, 22 Jan 2022 08:49:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417426 The ITAT ruled that interest income from fixed deposits linked to business activities should be classified as business income, while income from mutual funds and tax refunds falls under income from other sources. The ITAT directed further assessment on the set off of income from other sources against revenue expenses, granting partial relief to the assessee and remanding the issue back to the Assessing Officer for a decision. Case-Laws Income Tax Wed, 19 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417426