2008 (7) TMI 32

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..... that the interest earned by the assessee on FDRs was a business income and would qualify for relief u/s 80HHC - appeal is allowed and the question is answered in favour of the revenue - 635/2007 - - - Dated:- 31-7-2008 - Advocates who appeared in this case: For the Appellant : Ms. Prem Lata Bansal For the Respondent : Mr. Rajiv Kumar Garg CORAM :- HON'BLE MR JUSTICE BADAR DURREZ AHMED .....

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..... d against the assessee. 4. The following observations of this Court in Sriram Honda Power Equipment (Supra) need to be emphasized:- "We are, therefore, of the view that where surplus funds are parked with the bank and interest is earned thereon it can only be categorized as income from other sources. This receipt merits separate treatment under Section 56 of the Act which is outside the ri .....

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