Interest to be processed under head " Business Income"

[rajul5234]

Gujarat High Court. Tax Appeal 186 / 2003. Empire Pumps. Dt. 14/10/14.

Held, If F.D. is placed under business compulsion, interest on deposit is to be taxed as income from "Business".

S. C. decisions of Sterling, Pandian , Liberty considered and distinguished.

R. K. Patel