If the funds of the business are parked for safe keeping or with a view to earn interest income de-hors the business activity, the interest resulting there from cannot assume the character of business income but it would fall under the head "income from other sources"

CASE LAWS DETAILS

DECIDED BY: ITAT DELHI BENCH `D’, NEW DELHI,

IN THE CASE OF: Lovlesh Jain Vs. ACIT, APPEAL NO: ITA No. 4725/Del/2009, DECIDED ON April 30, 2010

RELEVANT PARAGRAPH

14. The moot question that arises for

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