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2017 (1) TMI 1651 - ITAT KOLKATAClassification of income - Interest received on FDRs in the year under consideration prior to the commencement of its business - Income from other sources or business income - HELD THAT:- The issue relating to the treatment to be given to the interest income earned by the assessee on FDRs kept with Bank before the commencement of business is squarely covered against the assessee by the decision of the Hon’ble Supreme Court in the case of Tuticorin Alkali Chemicals & Fertilizers Limited (1997 (7) TMI 4 - SUPREME COURT) and respectfully following the same, we uphold the impugned order of the ld. CIT(Appeals) confirming the action of the Assessing Officer in bringing to tax interest income in question in the hands of the assessee under the head “income from other sources”. - Decided against assessee.
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