This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Interest from FD linked to business activities is business income: ITAT Mumbai
Case Law Details
- Case Name
- ITO Vs Andhra Pradesh Expressway Limited (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
ITO Vs Andhra Pradesh Expressway Limited (ITAT Mumbai)
In a pivotal ruling, the Income Tax Appellate Tribunal (ITAT) Mumbai addressed a critical issue concerning the classification of interest income derived from fixed deposits (FD) linked to business activities. The case of ITO Vs Andhra Pradesh Expressway Limited delves into whether such interest income should be categorized under “Business Income” or “Income from Other Sources.” This decision provides clarity on how income from FDs, tied to business operations, should be treated for tax purposes.
Background of the Case
The controver...
