KOTHARI H C Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE question is :

(2.) THIS view of the department has been challenged before us solely on the ground that income treated as interest on securities should also be Included in the business income, because it formed part of their business operations. The answer given on behalf of the revenue authorities by Mr. Rama Rao Sahib, learned Counsel, was that, as the income which represents interest on securities falls under a head which is specifically provided for by Section 8, it is not open to the assessees to contend that it should be treated as part of their business income, as it is made separately chargeable under Section 8.