M/S POPULAR FINANCE COMPANY,PATHANAMTHITTA vs. THE ACIT,CIR-1,, THIRUVALLA

In the result, the appeals of the Revenue are partly allowed for statistical purposes

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

36(1)(iii) of the I.T. Act, 1961. 4.6 In the facts and circumstances of the case, whether the Assessing Officer correctly assessed the interest income received from partners under the head "Income from Profits and Gains of Profession or Business"? 4.6.1. In para 6 of the assessment order the Assessing Officer held that the activity of raising deposits from

M/S.POPULAR FINANCE,PATHANAMTHITTA vs. THE ACIT, CIRCLE-1, THIRUVALLA

In the result, the appeals of the Revenue are partly allowed for statistical purposes