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---Reference to High Court---Question involved in the case was, whether interest earned by assessee company on deposits in the bank, was a "business income" or could be termed as 'income from other sources', liable to tax---Contention of counsel for department was that when the assessee company was engaged in manufacture and sale of textile products and detonators, any interest earned by the assessee through an investment made in bank or financial institution, would be 'income from other sources', which was liable to tax---Contention of counsel for the assessee, on the other hand, was that any interest accruing on a deposit, earned out of the business income, would be 'income from business', within the terms of S.22 of Income Tax Ordinance, 1979, and in circumstances, was not liable to inc...
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