2015 (2) TMI 1177

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...., for the Department O R D E R Per George Mathan: This is an appeal filed by the assessee against the order of ld. Commissioner of Income Tax (Appeals)-XXXVI, Kolkata in Appeal No. 538/CIT(A)-XXXVI/Kol/Ci r-1,Hg./11-12 dated 17.10.2013 for the assessment year 2009-10. 2. None represented on behalf of the assessee and Shri K.L. Kanak, JCIT, Sr. D.R. represented on behal f of the Revenue.  ....

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....the other income which accrues to the society. In the instant case, the interest income earned by the assessee is the interest on funds which were not required for the business purposes and which were kept with PSU Banks and consequently the same fell under the head "income from other sources", which were liable to tax under section 56 of the Act. 4. I have considered the submissions. It is an ac....