3 results for “bogus purchases”+ Section 271(1)(b)clear
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Bench: Shri Laliet Kumar & Dr. Mitha Lal Meena
b) relates to treatment of interest income as 'Income from Other Sources and not part of business receipts. 6.1 Legal position on this issue is very clear. In the case of Sterling Foods 237 ITR 53, (SC) the Apex Court has held that only when there is a direct nexus between the interest income and business exigency to keep such