Author Topic: Interest to be processed under head " Business Income"  (Read 3214 times)

rajul5234

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Interest to be processed under head " Business Income"
« on: November 15, 2014, 09:09:18 AM »
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