https://www.taxtmi.com/caselaws?id=62327 The Tribunal upheld the taxability of interest income earned by the assessee-company during the construction period as revenue receipt, following the decision in Tuticorin Alkali Chemicals & Fertilizers Ltd. The interest received on bank deposits before the commencement of business was deemed of revenue nature and taxable, rejecting the assessee's contention for capital treatment. The Tribunal affirmed the CIT (Appeals) order, dismissing the assessee's appeals. In a separate judgment for the assessment year 1995-96, the Tribunal rejected the limitation ground not pressed by the authorized representative, resulting in the dismissal of all appeals by the assessee. en-us Fri, 09 Feb 2007 00:00:00 +0530 Wed, 19 Jan 2011 13:06:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62327 The Tribunal upheld the taxability of interest income earned by the assessee-company during the construction period as revenue receipt, following the decision in Tuticorin Alkali Chemicals & Fertilizers Ltd. The interest received on bank deposits before the commencement of business was deemed of revenue nature and taxable, rejecting the assessee's contention for capital treatment. The Tribunal affirmed the CIT (Appeals) order, dismissing the assessee's appeals. In a separate judgment for the assessment year 1995-96, the Tribunal rejected the limitation ground not pressed by the authorized representative, resulting in the dismissal of all appeals by the assessee. Case-Laws Income Tax Fri, 09 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62327