2012 (3) TMI 636

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....d ORDER R.S. Padvekar, In this appeal the assessee has challenged the impugned order of the Ld. CIT (A)-22, Mumbai dated 09.02.2011 for the A.Y. 2008-09. The only solitary issue raised in this appeal is assessment of interest income of ₹ 11,21,361/- as "income from other sources". 2. Briefly stated the facts are as under. The assessee company is engaged in the business of Electronics....

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....ry parting of the amount of the loan received and interest earned thereon has to be treated as 'income from business'. We find that this factual position has not been disputed anywhere by the Ld. CIT (A) though the A.O. has not mention any thing on the source of the investment. In our opinion, temporary parking of the borrowed amount of the loan on which the interest is earned, the said interest c....