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Commnr. of Income Tax, Delhi-IV Versus M/s. Dalmia Promoters & Devels. (P) Ltd.

2015 (9) TMI 1247 - SUPREME COURT

Interest earned from Fixed Deposits before business actually commenced - 'interest from other sources' OR 'business income' - Held that:- We are not going into this issue inasmuch as this appeal can be disposed of on the ground that consistency does .....

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. A.k. Sikri and Mr. Rohinton Fali Nariman, JJ. For the Petitioner : Mr. Jaideep Gupta, Sr. Adv., Mr. Rupesh Kumar, Adv., Mr. T.M. Singh, Adv., Mr. Pravesh Thakur, Adv., Mr. Jitin Singhal, Adv., Mr. B.K. Prasad, Adv., Ms. Anil Katiyar, Adv., Mr. B. V .....

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cer held that interest earned from Fixed Deposits before business actually commenced would be taken under the head 'interest from other sources' and not under the head 'business income'. This was reversed by the Commissioner of Income .....

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income' and, therefore, following the principle of consistency, it was held that this would have to be for the Assessment Year 1993-94 as well. An appeal filed by the Revenue before the Income Tax Appellate Tribunal was dismissed on 1st October, .....

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