https://www.taxtmi.com/caselaws?id=58963 The Tribunal upheld the Income-tax Officer's decision that the rental income should be assessed as income from other sources, not business income, as the property was not acquired for business purposes. Additionally, the interest income was also classified as income from other sources, not business income, as there was no evidence of money-lending activities. The Tribunal confirmed that interest income should be assessed on an accrual basis, in line with the mercantile accounting system followed by the assessee, dismissing the appeals accordingly. en-us Thu, 31 Dec 1987 00:00:00 +0530 Thu, 23 Dec 2010 13:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58963 The Tribunal upheld the Income-tax Officer's decision that the rental income should be assessed as income from other sources, not business income, as the property was not acquired for business purposes. Additionally, the interest income was also classified as income from other sources, not business income, as there was no evidence of money-lending activities. The Tribunal confirmed that interest income should be assessed on an accrual basis, in line with the mercantile accounting system followed by the assessee, dismissing the appeals accordingly. Case-Laws Income Tax Thu, 31 Dec 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58963