https://www.taxtmi.com/caselaws?id=36654 The court held that income from investments should not be classified as business income but as income from other sources. It allowed the deduction of interest paid on borrowings as business expenditure. The court clarified that the deduction under Section 85A should be calculated from net dividends. Income from dividends must be assessed under the head "Income from other sources." The case was disposed of without costs. en-us Sat, 20 Dec 1975 00:00:00 +0530 Tue, 23 Mar 2010 17:04:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36654 The court held that income from investments should not be classified as business income but as income from other sources. It allowed the deduction of interest paid on borrowings as business expenditure. The court clarified that the deduction under Section 85A should be calculated from net dividends. Income from dividends must be assessed under the head "Income from other sources." The case was disposed of without costs. Case-Laws Income Tax Sat, 20 Dec 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36654