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2014 (5) TMI 1119 - HC - Income TaxInterest earned on fixed deposits - "income from other sources" OR "business income" - nature of income - Held that:- The F.D.R. have not been received by Assessee for the purpose of investing money or otherwise, but it is a part and parcel of his regular business activities in which he has to furnish security to the Department to obtain civil contracts and if an interest has been earned thereon, in my view, it will qualify to be an "income on business" and not as "income from other sources". Also F.D.R. were purchased for security purposes for obtaining the contracts and the Court observed that it is in connection with the business activities of Assessee, which was the view taken by Commissioner also so as to hold that income earned on such F.D.R. is to be treated as "business income" and not as "income from other sources".
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