https://www.taxtmi.com/caselaws?id=306419 The Tribunal upheld the assessment of interest income under "income from other sources" instead of as "business income" due to the business not commencing during the relevant assessment years. The Tribunal also affirmed the treatment of preliminary expenses and disallowed deductions for expenses incurred before business commencement. The Tribunal directed the adoption of the netting method for interest income assessment, following a Supreme Court decision. The appeals were partly allowed for statistical purposes. en-us Tue, 09 Feb 2021 00:00:00 +0530 Mon, 30 Jan 2023 09:01:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306419 The Tribunal upheld the assessment of interest income under "income from other sources" instead of as "business income" due to the business not commencing during the relevant assessment years. The Tribunal also affirmed the treatment of preliminary expenses and disallowed deductions for expenses incurred before business commencement. The Tribunal directed the adoption of the netting method for interest income assessment, following a Supreme Court decision. The appeals were partly allowed for statistical purposes. Case-Laws Income Tax Tue, 09 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306419