2008 (12) TMI 372

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..... e from business but was income from other sources. Allow the appeal. - 46 of 2007 - - - Dated:- 10-12-2008 - RAMACHANDRAN NAIR C. N., HARUN-UL-RASHID JJ Jose Joseph for the appellant. T.M. Sreedharan and V.P. Narayanan for the respondent. JUDGMENT The judgment of the court was delivered by C. N. Ramachandran Nair J.- This appeal is filed by the Revenue against the order of t .....

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..... issue raised is squarely covered by a decision of this court in Nanji Topanbhai and Co. v. Asst. CIT reported in [2000] 243 ITR 192. In fact there are several decisions of this court and the Supreme Court holding that interest on short-term deposits cannot be treated as income from busi-ness. In the circumstances, this appeal is allowed by reversing the order of the Tribunal and restoring the ord .....

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