Commnr. Of Income Tax, Delhi vs M/S. Kelvinator Of India Ltd on 18 January, 2010
2.4.7 Per Contra, the appellant has relied on the decision of Hon'ble Delhi High
Court in the case of CIT vs Kelvinator India (2015) 60 taxmann.com.78 (Del) in
support of its claim that interest on debentures, fixed deposits were not to be
excluded from business income for deduction u/s 32AB. However, I do not find
that any specific submission has been made in respect of the taxability of interest
income from ICD debentures etc. under the head 'Income from Other Sources'. On
the contrary, I also find that my Ld. Predecessor in appellant's own case for
A.Y.2006-07 and 2009-10 had confirmed the action of Ld. AO in taxing the
interest income under the head 'Income from other sources' (ITA No. CIT(A)-