https://www.taxtmi.com/caselaws?id=772126 Whether interest earned on staff loans and other loans by an electricity distribution business is taxable as "income from other sources" or "business income" was the dominant issue. Applying the HC's earlier ruling that such interest was directly and inextricably connected with the assessee's business operations, and noting the Tribunal's consistent view that interest on staff loans and advances forms part of business income, the Court held that no substantial question of law arose on this classification. The appeal was allowed, resulting in the interest income being assessed as business income rather than income from other sources. en-us Mon, 24 Feb 2025 00:00:00 +0530 Thu, 01 Jan 2026 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772126 Whether interest earned on staff loans and other loans by an electricity distribution business is taxable as "income from other sources" or "business income" was the dominant issue. Applying the HC's earlier ruling that such interest was directly and inextricably connected with the assessee's business operations, and noting the Tribunal's consistent view that interest on staff loans and advances forms part of business income, the Court held that no substantial question of law arose on this classification. The appeal was allowed, resulting in the interest income being assessed as business income rather than income from other sources. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772126