15 September 2012
No need to have a case law. In case of investment company, although interest income is taxed under income from other sources, it does not lose the character of business income.
15 September 2012
No case laws are required for it. Investment is the business of investment co. thus interest received by it is its business income. And as a general rule business loss can be set off against business income. Had your co not being an investment co than such treatment was not possible.
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