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2015 (12) TMI 1018 - AT - Income TaxInterest income earned on business advances kept with the sister concerns - treated as ‘business income’ OR ‘income from other sources’ - Held that:- On perusal of the said Tribunal’s order in the case of ACIT vs. M/s. Piem Hotels Ltd, assessee’s sister concerns case we have no hesitation to come to a conclusion that the ‘interest income’ earned on business advances kept with the sister concerns should be treated as ‘business income’ instead of ‘income from other sources’. Considering the same, we find no infirmity in the order of the CIT (A) and upheld the decision taken by him. - Decided in favour of assessee.
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