Interest on bank deposits during pre-production phase counts towards project cost, not as income.

The High Court of Andhra Pradesh held that interest received on short-term bank deposits during the pre-production stage should go towards the project cost and cannot be treated as income from other sources. The decision was based on a previous case involving similar circumstances. The Income-tax Appellate Tribunal's decision was upheld, and the case was dismissed.

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The High Court of Andhra Pradesh held that interest received on short-term bank deposits during the pre-production stage should go towards the project cost and cannot be treated as income from other sources. The decision was based on a previous case involving similar circumstances. The Income-tax Appellate Tribunal's decision was upheld, and the case was dismissed.

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