Dismissing the appeal of the revenue the Court held that interest earned by assessee on sums lent to contractor constituted its business income and not as income from other sources .( AY. 2010-11 , 2011-12 ).
PCIT v. Nabinagar Power Generating Co. (P.) Ltd. (2019) 103 taxmann.com 225 / 262 Taxman 9 (Delhi) (HC) Editorial : SLP of revenue is dismissed, PCIT v. Nabinagar Power Generating Co. (P.) Ltd. (2019) 262 Taxman 8 (SC)
S. 28(i) : Business income- Interest income – Interest on amount advanced to contractor assessable as business income and not as income from other sources. [S. 56]