1995 (6) TMI 6

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..... rred the following question for our opinion under section 256(2) of the Income-tax Act, 1961 : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that the assessee is entitled to the deduction of the sum of Rs. 56,250 representing the amount forgone by the assessee as business loss ? " In the present case, the Tribunal held that the income .....

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..... ccount. The assessee was carrying on the business of money-lending during these assessment years. The interest received on these loan transactions constituted business income. " In view of the abovesaid decision rendered by this court in the case of the assessee's son, we hold that there is no infirmity in the order passed by the Tribunal in coming to the conclusion that the income arising from .....

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