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2014 (10) TMI 989 - HC - Income TaxIncome of the appellant as assessable under the head “income from other sources” OR “profits and gains of business or professions” - Held that:- The facts of the case are that since the profit which was shown by the appellant as income from business, the appellate Tribunal has committed error to shift it to income from other sources. It should have been assessed under the head 'profits and gains of business or profession’ and not under the head 'income from other sources’. In that view of the matter, we are of the opinion that the income should have been assessed under the head 'profits and gains of business or profession’ and not under the head 'income from other sources’. The issue is answered in favour of the appellant.
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