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1999 (7) TMI 26 - HC - Income Tax
Extract:
.......e Pvt. Ltd. v. ITO 1982 135 ITR 390 was referred to and approved. In the light of the above, we have no hesitation to hold that the income received by the assessee as interest from the fixed deposits with the bank is not business income, but only income from other sources. In the result, we find no merit in the appeals. The appeals stand dismissed.