Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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Interest earned on fixed deposits kept only to furnish a bank guarantee for the project was held to have an inextricable nexus with the project and, therefore, had to be capitalised to work-in-progress rather than taxed as income from other sources. The Tribunal found the deposits were not a deployment of surplus funds, the bank guarantee remained in force during the relevant year, and the project had not finally ceased because cancellation was still under challenge. On that basis, it applied the project-linked receipt principle and distinguished Tuticorin Alkali, deleting the addition.
Interest earned on fixed deposits kept only to furnish a bank guarantee for the project was held to have an inextricable nexus with the project and, therefore, had to be capitalised to work-in-progress rather than taxed as income from other sources. The Tribunal found the deposits were not a deployment of surplus funds, the bank guarantee remained in force during the relevant year, and the project had not finally ceased because cancellation was still under challenge. On that basis, it applied the project-linked receipt principle and distinguished Tuticorin Alkali, deleting the addition.
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