2018 (10) TMI 1506

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....unsel JUDGMENT T.S.Sivagnanam, J. This appeal filed by the Revenue is directed against the order passed by the Income Tax Appellate Tribunal Bench "B", Chennai, in I.T.A.No.159/Mds/1996, dated 31.12.2007 for the assessment year 1992-1993. 2. This appeal has been admitted on the following substantial question of law vide order dated 10.09.2008: "Whether in the facts and circums....

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....her income only to meet the requirements of the Companies Act. Therefore, the income put under the head "other income" never ceases to be business income. Admittedly, these were essentially business receipts and this feature was not peculiar to this year alone. It was present in the earlier years' also and for those years, they were rightly treated as business receipts. Under the circumstances....

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....business receipt. 6.In the light of the above factual position, we are of the firm view that the above question of law does not arise for consideration, since, the department had accepted before the Tribunal that the interest and other miscellaneous receipts qualify for deduction under Section 80I of the Income Tax Act, 1961. As the department themselves have treated the same as business receip....