https://www.taxtmi.com/caselaws?id=38559 The High Court of GAUHATI affirmed the Tribunal's decision that Rule 8 of the Income-tax Rules, 1962 did not apply to interest income from loans advanced by the assessee to sister concerns. The Court ruled that the full amount of interest income should be included in the total income as it was not derived from the tea business of the assessee. The Tribunal's findings supported this conclusion, emphasizing the lack of connection between the interest income and the integrated tea business. Previous cases cited were deemed irrelevant, and the Court upheld the full inclusion of interest income in the total income. en-us Mon, 17 Jan 1977 00:00:00 +0530 Wed, 07 Apr 2010 12:22:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38559 The High Court of GAUHATI affirmed the Tribunal's decision that Rule 8 of the Income-tax Rules, 1962 did not apply to interest income from loans advanced by the assessee to sister concerns. The Court ruled that the full amount of interest income should be included in the total income as it was not derived from the tea business of the assessee. The Tribunal's findings supported this conclusion, emphasizing the lack of connection between the interest income and the integrated tea business. Previous cases cited were deemed irrelevant, and the Court upheld the full inclusion of interest income in the total income. Case-Laws Income Tax Mon, 17 Jan 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38559