Case Law Details
Case Name : ACIT Vs. Niru Impex (ITAT Mumbai)
Related Assessment Year : 2001- 2002
Courts :
All ITAT ITAT Mumbai
RELEVANT PARAGRAPH
6.1 The main question before us for decision is whether the interest income could be treated as “business income” or “income from other sources”. The answer to this question has to depend on how the interest income derived by the assessee. No doubt, normally, on the placing of funds in banks on short-term or long-term deposits the interest income derived from those sources would be “income from other sources”. But it is not so easy to decide that interest income is always assessable under head “income from other sources”. It de...
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My god! why make investments by individuals so complicated.