TMI Blog2011 (1) TMI 1169X X X X Extracts X X X X X X X X Extracts X X X X ..... to acquire a contract work, and therefore it cannot be treated as income from other sources and interest accrued on such Fixed Deposits has to be treated as business income only in view of the Judgment of the Apex Court in the case of CIT v. Govinda Choudhury and Sons (1992 - TMI - 5424 - SUPREME Court) , appeal is dismissed. - IT Appeal No. 615 of 2007 - - - Dated:- 18-1-2011 - N. Kumar, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n showing that the income from such deposits as business income. The Assessing Officer treated the said income as income from other sources and did not accept the case of the assessee that it is a business income. Accordingly he passed the assessment order. Challenging the said order the assessee preferred an appeal which came to be dismissed. Aggrieved by the same, the assessee preferred an appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... work, and therefore it cannot be treated as income from other sources and interest accrued on such Fixed Deposits has to be treated as business income only in view of the Judgment of the Apex Court in the case of CIT v. Govinda Choudhury and Sons [1993] 203 ITR 881/[1994] 74 Taxman 331. In view of the aforesaid decision of this Court which is based on the Apex Court Judgment, which has also attai ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
