https://www.taxtmi.com/caselaws?id=304634 A delay in filing an appeal may be condoned where the assessee shows sufficient cause through affidavit and supporting material, and where no prejudice is caused to the Revenue; the appeal was therefore admitted. Interest earned on fixed deposits maintained as margin money for bank guarantees and working capital facilities, having a direct nexus with business requirements, is incidental to business deployment of funds and is taxable as business income rather than income from other sources. en-us Tue, 25 Apr 2017 00:00:00 +0530 Tue, 11 Oct 2022 18:47:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304634 A delay in filing an appeal may be condoned where the assessee shows sufficient cause through affidavit and supporting material, and where no prejudice is caused to the Revenue; the appeal was therefore admitted. Interest earned on fixed deposits maintained as margin money for bank guarantees and working capital facilities, having a direct nexus with business requirements, is incidental to business deployment of funds and is taxable as business income rather than income from other sources. Case-Laws Income Tax Tue, 25 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304634