Commissioner Of Income-Tax vs Haribhai Estate Pvt. Ltd.

The Supreme Court directed the Income-tax Appellate Tribunal to refer questions of law regarding the classification of interest income for assessment years 1979-80 and 1980-81 to the High Court. The Tribunal had previously held that certain interest incomes should be classified as business income rather than income from other sources, which the Revenue contested. The Court found that the questions of law did arise from the Tribunal's order and allowed the appeals without costs.