https://www.taxtmi.com/caselaws?id=32059 The court upheld the assessee's entitlement to claim exemption under section 10B for interest income earned from a sister concern, emphasizing that the income qualified as "Profits and Gains" under the Income Tax Act. The court differentiated between profits and gains of business or profession and income from other sources, concluding that the income in question fell within the former category. The Revenue's appeals challenging the exemption were dismissed, affirming the tribunal's decision in favor of the assessee. en-us Wed, 20 Aug 2008 00:00:00 +0530 Sat, 24 Jan 2009 07:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32059 The court upheld the assessee's entitlement to claim exemption under section 10B for interest income earned from a sister concern, emphasizing that the income qualified as "Profits and Gains" under the Income Tax Act. The court differentiated between profits and gains of business or profession and income from other sources, concluding that the income in question fell within the former category. The Revenue's appeals challenging the exemption were dismissed, affirming the tribunal's decision in favor of the assessee. Case-Laws Income Tax Wed, 20 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32059